Funny how you now admit there was a Trump bump, something you’ve argued was due more to the previous administration. When the market turns around, as it will, will your story change again?
3
There was never a trump bump. But go on living in your trump bubble.
5
It won't turn around until a Democrat is in the White House. It never does.
4
Markets go up and markets go down. The number of factors involved is staggering. I find many problems caused by Trumps actions but placing the blame or praise for market movements is a very inexact art.
41
So that’s exactly why he claimed he was responsible fir markets going up.....?
Am I missing something?
Ow his come uppance is appearing.
Good. He earned it.
6
And good for the retirees and college funds of tens of millions of ordinary Americans.
1
In general you are right. But in this case, the Chinese very loudly declared tariffs on targeted American goods in retaliation for the tantrum tariffs and moments later the Dow fell 500 points. The relation could not be clearer.
16
Interesting how the stock market goes down when the President actually does something to protect the American middle class by placing tariffs on Chinese products. Of course investors are not happy because that means they can’t keep gutting the middle class American worker (what’s left of them). So sick of an economic system that rewards people who actually contribute nothing whatsoever to society while punishing those who do. How long can this system last? We are hopefully seeing the beginning of the end of that system now.
5
The middle class will be totally decimated by these tariffs, which will raise prices on all the goods they buy every day. Trump doesn't protect anyone but himself,: take his horrifying tax bill, cutting taxes for the wealthy and especially real estate moguls, and raising them on the middle class.
Wake up and smell the economy burning! 45 is a wolf in sheep's clothing!
22
Mike, you live in NY. These tariffs might not hurt you but the trad wars that result will hurt middle class workers who produce aluminum and steel products. They will hurt Midwest farmers who produce pork and other farm products. Trade wars will end up hurting everyone because for every action there is an equal and opposite reaction. Why wouldn’t you think China and all other countries won’t react to tariffs placed on their products? Oh, by the way, it will hurt Walmart shoppers too.
4
It occurs to me that Trump, because of his position, can affect the stock market in any direction he wants - just with a tweet. Is it possible that he or his family members could make money from buying or selling just before or after the tweet?
164
Exactly.
Off-balance sheet.
To pay off their off-shore financiers.
To make up for bad real-estate investments.
Timing when he will stop tweeting, targeting companies.
Who knows his/his family's holdings?
It is the perfect, and possibly perfectly not-illegal form the Trump grifting a/k/a "stock kiting" ...
Kind of a fabulous money machine for one person, one family, one triumph.
12
Ah, the businessman with a history of bankruptcies and bullying, who survived most likely because of Russian oligarchs and moneylaundering and the mob.
Smart move, putting him in charge, with his short attention span and love of the limelight. Cheating, looting, despoiling, that's our Trump.
1241
That unfortunately is the definition of a significant proportion of americans. He was elected. Not a majority, but still...60 million people who have exactly the same characteristics or are stupid or both.
10
I'll bet there's dancing and merry making in Putin's house tonight.
20
Cheating, looting, despoiling - and blaming President Obama!!!!
12
Trump chose to use the stock market as his report card. He just got an F.
19
Yep he did, but he’ll soon forget that or change the narrative or find someone else to blame. The buck will never stop with him.
1
Just came back from a week in remote British Columbia. No internet. No cell service. Justin at the helm. Shoulda stayed.
72
You are welcome to be back anytime, we are not planning to build a wall, yet!
6
If Republicans want the stock market to recover, they should impeach and convict Trump. Simple.
61
You can bet the trumps profited from these moves as well as the Kushners.
28
The stock market has been on a tear since Republicans took over Congress and governorships beginning in 2012 and has continued since Trump's inauguration. Now the market is forecasting a possible Democrat takeover of the House of Representatives and down we go!
3
Sorry Robert, bit of a reality check..... the market has done much better during Democratic administrations than during Republican ones.
You can argue, as you seem to do, that it's all about who's controlling Congress, but hey, one can parse statistics in many different ways and come to one's preordained conclusions, right?
22
The stories people tell themselves. There's not a Democrat in sight, and you're still blaming them. Maybe this is George Washington's fault.
27
In 1929, the stock market was already forecasting a possible defeat of the Republican President Herbert Hoover to the Democrat Franklin Delano Roosevelt in the Presidential Election of 1932. On October 29, 1929 the stock market crashed. And the country went down.
5
Trump is channeling Herbert Hoover/ Richard Nixon. Please take away his twitter account.
23
You would have thought that Iraq would have clued people into the GOP. But, nope. After eight years of complaining about Obama they decided to double down on their embrace of the "Big Lie" by electing a morally bankrupt master of it.
And, just like with G. W. Bush, the majority will end up paying for the delusions of the minority.
It's worth noting that In the last 100 years, no one has done more damage to this "democracy", than the two presidents who lost the vote. What more proof do we need that we should have a one person, one vote system? And that the majority should win.
203
To that end, the worse-than-useless Electoral College can be bypassed with the National Popular Vote:
https://www.nationalpopularvote.com/
This is a state-by-state mechanism. No constitutional amendment is needed.
6
Travesty followed by another travesty. The GOP/MAGA folks are still not convinced that the Iraq invasion was folly; they'll never admit that this GOP tool has wounded our republic. Eyes that cannot (will not) see, ears that deliberately ignore our fiasco. The rest of us get to suffer for these outrages.
3
Yes! And WHYOHWHY don't people notice that we always have a recession when the Repubs are in the WH? And a Dem gets in and has to clean up the mess where possible. (It was close to impossible for Pres. Obama, but he DID get us back on track. Now we're on the skids again. I'm so sick of Republicans I could go find one to throw up on...
7
Trump, is a one man wrecking machine. He has tunned market stability, into instability. The market events, of the pat 10 weeks, can all be attributed to Trump threatening war, tariffs trade wars, etc. The latest NAFTA and Amazon. And, of course, the continued three ring circus, and merry go round, of hirings and firings in his administration. And, on top of it all, a Fed chairperson who seems to be out of touch. What else is new with the Trump Administration?
Investors and savers, are feeling the pain of what Trump, and his cronies, are doing. While a multi billionaire, silver spoon (foot in his mouth) "president" can absorb market and wealth losses, many of those relying on retirement savings; cannot.
As for his "huge" tax cuts, well, on one hand people got some tax cuts, on the other the cuts have gone to higher interest rates and lost savings.
Too early to ask this; are you better off now, than your were before Trump started opening his big moth and destabilized the markets, certainty and the world order? In 10 weeks Trump has created more uncertainty out of his already exiting uncertainty.
115
Yes, but we're talking about the market tumble not the affair with a porn star. Mr. Trump knows all too well how to divert attention. He has zero interest in the pain it causes others, even his base, who refuse to believe he's harming them. At the end, whenever it is, he'll simply blame it on Democrats and they'll swallow it whole. Even as they choke on it, they'll rave about how great he is, because that's what their media sources tell them.
7
Trump$ MAGA = L O P A M A P *
*Lining Our Pockets As Much As Possible.
Add in the worst, least qualified Cabinet in US history, and we've got "winning" (and whining) the Trump way.
After his tax cut ultimately bombs and his wall crumbles, Trump can declare bankruptcy for the Country. Why not, it worked for him FIVE times before.
Perhaps when his foolish, gullible base discovers their pockets have been picked they will help the rest of US take Trump and the rotten Republican Congress down. Nah, until Fox (bloviating fake news) turns against him, Trump has cover.
Well, grab a legal six pack... 'cause it's MUELLER Time !
VOTE Them OUT. Massive turnout for Democrats. NO excuses.
13
Maybe the Evangelials in these bright red trump states can pray their way out of the mess that they created for themselves and for the rest of us when they voted for this new age Elmer Gantry.
6
This should not be a surprise to anyone. He loves chaos. This man is so unstable and extremely dangerous for our country. When one does not read and know history, economics, political know how, rules by fear and hatred one should not be surprised. Reading of him, his more than dozen lawsuits, his bankruptcies his degrading of women, minorities, blatant lies should have been a warning before voting for this slow emerging tyrant. The longer he will be the head of the free world the more he will make sure he will have ultimate power as the oligarch and dictator. Surrounding himself with people who think like him. We were warned. Just hearing him adoring Putin, Erdogan, the Saudis ruling clan, Philippines President should tell us what is to come. He ruled his business that way. He ignores rules and attacks anyone who opposes him. He will become a dictator with a finger on the button. We were warned. This man cares for no-one but getting himself super rich. He saw Putin getting super rich. since becoming President. His God is himself. He admires the .1 % Billionaires. He uses them to get elected,. He promises the unemployed they can be rich like him. Hitler, Stalin, and all before him, who became dictators, have used fear through scapegoating and hope for a better life to become elected. We know there results of such adoration.
8
Of course this is all fake news trotted out by a failing newspaper.
Par for the course for this 71 year old who can be duly ponderous and fairly slow on the uptake.
2
"...zesty spending...." "...clobbered...."
I love this writer! Betrays the normally beige prose of most economic analysis.
Everytime the stock market falls, dips down, I smile with glee. Maybe some greedy stock investor loses a little money. Poor baby. Did you vote for the idiot in the Whitehouse? Good. Reap what you sow. While the rich celebrate tax breaks, the real workers in this country go deeper into debt, interest rates rise for people who need to borrow, and corporations just continue to grow and prosper, unregulated. Ill throw a party for my poor friends when the stock market completely crashes. Cant wait. Yeah, if we sink into a depression then everyone will be struggling but if the rich lose money like the rest of us, then fine by me. Let's build a border wall all around Wall Street!
1
Meanwhile, still no infrastructure investment!
But why invest in infrastructure, we're already number one, aren't we?
When will the full 2nd Avenue subway line be completed?
What about the Access to the Region's Core Project (ARC), the Northeast Corridor (NEC) Gateway Program, the Hudson Tunnel Project, the Portal Bridge Replacement Project, ...?
3
How many -10 corrections does Wall Street need to understand that "the Donald" doesn't know how to do the job.
4
Is anyone looking into the insider-in-chief and his cronies for manipulating the market for their gain? All it takes is a small heads up before he tweets to make billions on the market.
Isn't this how the wealthy became so?
6
Trump spported and signed into law a huge tax cut for the 1 percent. Jeff Bezos is a winner in that legislation. Trump bragged that a lower corporate rate would help make America great. Now he complains that Amazon doesn't pay enough taxes. Someone should remind him that he is the reason.
8
Now, you write, "a toxic stew of factors has polluted the markets placidly rising waters."
FYI A toxic stew of factors (its wellspring in greed) has been sweeping away regulatory filters for over a year. The torrent of short-term profits over long-term prosperity has swept away the restraints on an economic system that no longer serves the nation.
There's been nothing placid on Main Street since November 2016. Regular folks out here have been noting the ever-increasing stench from Wall Street & Washington for about 18 months. We won't forget in November 2018.
Your analysis got lost in Wall Street world.
2
My guess is that Trump's entire septic tankful of economic moves is based on what he and his fellow swamp denizens can make in the stock market by trading on the eves of his imbecilic tweets.
5
I hope you have had enough of GOP. They are bullies govern with failed trade war policies of the past and are dangerous to the world with their war mongering ways. There is plenty of money for war but none for your 401k. Go to the voting booth and remember the last sentence. I will.
5
Wall Street gives this current occupant of our Oval Office tooo much power...He is irrational, mean and so jealous of Bezos, he is using his power to PUNISH him and our FREE markets...
Let's keep them free and functional.
Maybe business needs to send Mr. Trump it's own message..Behave responsibly or watch your donations fly away.
I am tired of watching the market gyrate every single time this clown does something truly stupid. Somebody needs to put him on a shorter leash than Putin has him on. Or do we just let him flush this economy down a toilet because he is angry???
6
Tump relishes getting credit for this - the Big Man can bring the markets down in a single tweet! The NYT and other media is enabling him. He created the Myth of Trump years ago by using the NY media. Like Putin, his strongest skill is his ability to manipulate his base with media, even while alienating (practically all) others.
The odd thing to me is how no one - media, opponents, citizen groups - seem to know how to counteract these guys. Now that’s topic worth exploring NYT!
5
The next stop on the President’s never ending campaign-celebration-remembrance tour: Iowa.
I’m sure hog farmers and pork processors have their placards ready to welcome the man who corrupted Sioux City.
2
Articles about the stock market under Trump always seem to attribute it to business sentiment and how his policies affect the real economy or investors fears of political instability. The recent cut to the corporate tax rate was a one-time transfer of wealth to stock-holders with little-to-no affect on the underlying businesses. If my stock represents a claim to $100 a year in profit, and now instead of paying 30% tax I pay 20%, the business is -exactly- the same. In an instant, the value changed from $70 a year to $80 a year, but the future growth rate will be exactly the same as before. The policy isn't pro-business and doesn't affect jobs - it is pro-shareholder. It is a one time transfer of wealth to the 50% of Americans who own any stock at all, and to the ~1% who own 80% of it. A back of the envelope calculation shows that more than 1/2 of the 20% rise is directly predictable from that corporate tax cut, and this explains the entire increase above average stock returns (~7%) thus far. There was the argument made that this would bring in more foreign capital to the US, but clearly Trump's overall impact is going to be the opposite, as he driving away foreign students and immigrants and trashing our reputation abroad.
2
The sell off can be attributed to three things. The first and foremost is the tariffs. You saw the markets react when Trump first tweeted about steel and aluminium tariffs. They recovered when he exempted allies; but China's retaliatory tariffs reignited fears of a prolonged trade war. While China's theft of intellectual property needs to be dealt with, Trump is going about this in the most haphazard and idiotic way imaginable. Picking fights with everyone before settling on China instead of building an international coalition to collectively push back against China.
Second is Trump's attacks on Amazon threatening regulatory action over coverage in the Washington Post is certainly Trump's fault and not rooted in any sort of sound policy. The President is wiping billions of dollars of value off an American company that employes AMerican citizens because the owner of said company happens to own a newspaper that isn't propaganda like Fox News or Sinclair.
Third is the Facebook scandal and broader concerns with social media privacy. This one is largely out of Trump's control, however he's still attached to this since he used Cambridge Analytica in the campaign, so even here his hands aren't clean.
President's typically have far less control over the economy than most people think; but with Trumps' case his specific actions have caused the markets to tumble. He liked to take credit for the record gains in January. He gets the blame for the fall in April.
5
Maybe Republicans including farmers will finally stand up to their choice for president. He isn't acting in their interests. He has never reached out beyond his own immediate interests. Shouldn't that be obvious by now?
3
If this market dip results in a GOP loss in November, then I'm all for it. Trump's presidency is a malignancy.
6
It's Obama's fault; he handed Trump a lousy economy that had created 16.5 million jobs.
3
And what took so long for this to come to pass?
Why is anyone the least bit surprised about this. Chaos accompanies incompetence.
6
We wanted Trump "to shake things up," didn't we? Well, now the stock market is shaken.
2
Unfortunately, the country voted for someone who told people off, bragged about his own virtues, and promised to fight the elites and the swamp. What they got is a President who belongs to the elites and feeds the swamp, has few management or other skills as touted, but continues to tell people off, often with little understanding of the impact of his tweets and statements. People hoped for someone refreshing who would settle into the job, and got someone who was a little crazy and has gotten worse.
3
Finally!
The investor class has realized that Trump is mentally unbalanced, deeply disturbed, and his reckless behavior will destroy our Democracy.
6
Trump is and always has been incompetent. This is what you get when you elect a President who claims to "rich" but won't prove it by releasing his taxes.
Add the US Economy to the list the businesses Trump has destroyed.
4
No surprise here. Trump is running the country just like he ran his casinos. This will not end well.
4
The Dow rose 140 percent under President Obama, nearly 10 million non-farm jobs were added during his two administrations, corporate profits were up 166% and the unemployment rate dropped three points from the time he was inaugurated until he left office. Trump supporters prefer to ignore those numbers and give the current president credit for the economic progress achieved under his predecessor--progress that continued well into trump’s 1st year until today.
8
I thought the drop was tied mostly to the tech sector and data privacy issues as well as concerns of bankruptcy. On Trade, moneyed investors know that the market has to drop for China to believe that the issue is real and China has to come to the negotiating table. Sabers will rattle between the US and other Countries on the Trade issue until a negotiation is reached. Then the market will take off. No brainier there.
Business hates 'uncertainty'. But this is worse; a looming trade war where everyone loses.
Yes, China is guilty of bad and even illegal practices. But the way to rein them in is through the WTO, and failing that by working with ALL our Allies in synch to put trade tariff pressure on them. Not going it alone.
6
I went short on indexes and liquidated to cash just after the Republicans gained control. After witnessing the last few decades it's not a hard decision or strategy to figure out. Not too late to make the move. We've much more to lose with this administration and Congress. That is if it doesn't start a nuclear war before midterms.
4
Trump inherited a rising market and, as with all Republican administrations in recent history, set out to destroy it and the entire economy. Don’t believe it is Republican policies? Ask the citizens of Oklahoma, Wisconsin, Iowa, Missouri etc etc.
7
as of 10.10 am boston time, dow is up 14.75% for a one year basis
anyone know where I can get an investment that returns 14.75%/yr, pre tax ?
thought not
this is a "normal" correction, 14.75% per year is high
1
The market was up about 15% per year FOR EIGHT YEARS during the Obama administration. Just stay long, my friend.
2
Yes. Totally normal. Has nothing to do with Trump's idiotic policy "pronouncements," right? Totally unrelated.
And he's not done yet.
2
It's only high if you ignore how it did for 8 full years under President Obama. Give President Trump time, he hasn't fully extinguished the legacy of President Obama yet. I wouldn't discount the impeachment bounce.
1
Markets seem less based on company value than on the emotions of the people buying them.
4
Which of Trump’s friends and family shorted Amazon just before his tweet storm? Never underestimate the capacity of Trump to engage in corrupt action if he and his buddies can make a nickel.
20
The sham and ABCs of modern Republicanism (as per Presidents Reagan, the Bushes and Trump, and their Congresses): A) Loot the Treasury to give tax-cuts to the rich; B) Gin-up fear and loot more from the Treasury to build-up the military and national debt for a looming bungled war of choice that working class teenagers and twenty-somethings are sent to be killed and maimed in while killing and maiming mostly innocent brown-skinned "non-Christian" "foreigners;" C) Cause a Great Recession via A) and B) that results in major layoffs for working Americans and loots the retirement accounts and home-equity of the middle class; D) To distract working and middle class whites, gin-up racism, the "pro-life" issue, hatred about gays, and fear about confiscating guns and outlawing Christmas; E) In general, sow an immense amount of pain and suffering at home and around the world...and all in the name of "freedom" and "Jesus," also known as...following the commands/orders of the neocons and their patron oligarchs.
26
I love how a 10% drop in the Stock Market is called a "correction." We wouldn't want to shake anyone's faith in America's favorite casino, would we?
6
Yes, shocker, look what happens when an arrogant narcissistic non-knowing 'know it all' gets their nose into and applies a far less than deft handling of the economy.
8
I am just waiting to hear how Trump will blame this Wall St dose of reality reaction on Obama or Hillary?
12
Our Wall Street head honchos instructing the GOP lackeys won't impeach #45 for collusion, obstruction of justice nor for treason, but maybe they'll consider what #45 is doing to their global economic hegemony?
4
This 71 year old can be duly ponderous and fairly slow on the uptake.
Once again we are reminded that we have a tragically unprepared and dangerously unprincipled ‘fake’ president who is an unabashed leech and an unrepentant liar. He should have seen that pulling out of the TPP gives China an open field to play in. He should recognize that withdrawing from NAFTA will harm many of the very people he claims to champion. He should understand that protecting dying industries to preserve jobs restrains the overall economy.
14
Can't Twitter just shut down Trump's account as being treasonous?
12
what goes up, at some point will most likely come down. with trump involved it might come crashing down. The smartest man in the room, maybe in the bathroom if he is alone.
6
The markets are so pumped full of printed money that once the baby boomers start demanding their money, they will take down the ship with them. The baby boomers have a great soundtrack but they are a selfish generation who love to spend the next generations money.
1
Blame Trump again? Even though I'm not a supporter it's getting tired.
1
Good. The Trump market was NOT a normal market but a bubble... All the gamblers did not see that??? And frankly, IMO trading should be allowed exactly one day a week. The other four Wall Streeters can do something useful... Help build or repair infrastructure -- I know many sidewalks, subway stations, parks that need work. Tutor, care for kids after school. Help out oldsters. -- All of those usully underpaid jobs... that educated people can't do. And all the liars on Wall Street might be prosecuted and sent to jail. How can a company supposedly solid like GE have its stock value fall 50% in one year... with apparently little warning.. Toys R Us -- gone?? What aren't we/people being taught in school??
Utilities survive as do many industries by raising prices along with dividends???
Maybe long term investments should be five years instead of one??
Complicated in part because of the privileged nature of earnings??
4
Trump is proving why the Trans Pacific Partnership was the right way to deal with China.
His simple racist "Fox and Friends" mind and opposition to all things Obama is the root cause of this problem.
11
China will bring home our bacon.
As big and little pork producers go belly up, China will acquire as many as them as they can stomach.
An inconvenient blur of our collapsing status in the world.
4
Thank God the market is tanking. Hopefully unemployment will also go up before the midterms. The only way his deplorable supporters will vote for Democrats is if his "policies" hit them in the pocketbook.
8
Trump supporters will never vote for the Democrats if you continue to call them deplorable.
The Democrats must give them a reason to vote for them.
Alberto - Anyone who pays attention knows there are all kinds of reasons to vote for Democrats.
Apparently, (or not apparently), in the stock market, perception is reality. What we generally have is an elaborate and impressive looking game of smoke and (more importantly) mirrors. What you ‘think’ is what I’m worth. Additionally, the “market doesn’t like uncertainty”, or ‘if we rig the game everyone makes out alright!’ The market is a perpetual cauldron of bubble and we now have a ‘Bubble President.’ Well, pop, pop, pop! How do you like that? I’m willing to bet somebody sold short! Only the suckers and ‘true believers’ got left holding the bag!
And then there’s Big Chief Bankruptcy. Funny how everyone misremembers his actual business record (we’ll put his marital record aside for the moment). With six bankruptcies, countless family bailouts, lawsuits, corruption, and look-the-other-ways in his history, if he was a pilot, would you fly with him? Well you are! So buckle up and too bad! Trump is a toxic disturber who doesn’t know how to play well with others. His Cabinet’s insolvency is an easy example of the lack of cohesion and intelligence he breeds. It’s more like Russian Roulette than a well functioning administrative body.
The market depends upon a “robust spending economy”, so we working stiffs (who can’t budget on speculation) are expected to foot the bill without any raises.
Sounds like we need another major war to straighten this messy, downturning financial stuff out! Bring in the hawks, bring them in the hacks, have at it! Who is going to stop them?
4
I would be a willing participant in a class action against Trump personally for his fraudulent statements about Amazon, specifically calculated to bring its stock price down. Fraudulent manipulation of the stock market is, I understand, a crime. Here Trump is punishing Amazon for its ownership by Jeff Bezos, who also owns the Washington Post, one of Trump's political "enemies." Ironically, he is lying about Amazon in order to coerce Bezos to stop factual reporting of his lies. And he is using and abusing his position as president to do so. He should personally reimburse stock owners for their losses.
And by the way, the tariffs on Chinese goods won't include clothing - so he can still get his MAGA hats cheap? And so Ivanaka's licenses for manufacture and sale of her clothing and jewelry lines can proceed? Talk about corruption .....
12
Trump is making money. You aren't? Too bad, more for him
1
The chaos POTUS runs a chaos White House, a chaos legislative program, a chaos foreign relations program and a chaos public relations program on Twitter.
Why would one expect that the stock market, and the economy, would be insulated from that much chaos? It isn't. We are now seeing that connection.
Believe me. BIGLY.
3
Well, now we have proof that the last several years' prosperity was just the aftermath of Obama. Trump finally even starts talking, let alone doing, his first real economic policy plank and the whole thing comes tumbling down.
8
Out here we are prepping for the "big one" meaning earthquake. We should also be getting ready for the deep recession that will likely result from Trump economic policies (to use the term loosely), a big one for us all.
7
Every war has consequences, mostly unintended. One can jump into the fray thinking that the other side is weak. This is an unnecessary war which the US cannot win, not because it lacks nukes, missiles or delivery system; but because it does not have the monopoly on export market that it once had. China is a much larger market with three times the consumers. It is an unnecessary and unprovoked war and we must prepare for the unintended consequences.
3
China might have three times the consumers. But without equivalent buying power. Largest loser in this possible trade war is India and Central Asia. China would move to control the Malacca Strait. (Raw material supply lane.) US would likely counter with abrogation of the Torrijos-Carter Treaties on the Panama Canal.
If a person, willing and greedily self-promoting, tries to take credit for some event or trend, then that person must be equally willing to take the blame when the event or trend reverses.
13
Who calls this a "Trump bump"? Who knows where it will stop?
IMHO, it will be much lower than a measly 10% "correction"; more like 25-30%, within this calendar year.
3
Great! Time to buy when it all settles down.
When you have a liar and con man running the country , it certainly adds to market and social uncertainty. Companies enjoyed things like corporate tax cuts and the lifting of what they saw as burdensome regulations. But now the reality of the long term affects of these actions is beginning to set in. Regulations for example create level playing fields that advantage smaller start ups, but now our survival of the fittest attitudes leave everyone guessing and uncertain. But corporations love short term gain and that is also uncertain.
6
Peace, predictability, education, investment and optimism. That's what a good future is based on.
Stock prices are a reflection of future economic growth and earnings. The increased earnings from a one off tax cut is baked into the cake. The Dystopian view the President painted to get elected is being implemented through both policy and his daily rantings.
Increased volatility isn't just about stock prices. There is a mad man in the White House and the system of checks and balances have been temporarily suspended.
7
Maybe wealthy donors will start cutting off cash flow to Republican politicians. That might get their attention.
2
You think this downturn is bad. Wait until we are smacked by the toll that will be taken as Scott Pruitt resmogs the air and re-poisons our rivers, lakes, streams and oceans, as climate change's superstorms and biodislocation outpace our ability to pay the piper, as trade wars escalate to an every country for itself crescendo of social suicide.
Small price to pay to get rid of those DACA kids, though.
13
Trump has exhibited a very suspicious pattern of singling out individual companies for intense criticism over short periods of time. It is currently Amazon, but past companies include venerated manufacturers like Boeing. Trump also recently plunged stocks for manufacturers that use steel by threatening a global tariff on steel which he then, predictably, canceled for most countries. Federal investigators need to look into whether this is an ongoing scheme for Trump to enrich himself and his friends through stock shorting.
11
We'll see what happens next quarter but I think the best case scenario is we land right back where we started: Slow steady growth leftover from the Obama era. We're all lucky Trump took office with a solid economy or things could be much worse right now. With Trump continually rocking the boat, it's anyone's guess how long are luck will hold. I'm sure Trump will blame Obama though. I don't need to hedge on that one.
3
Want to hear something scary? The way voters are aligned and lack information and education in this country right now, if Roseanne ran for president she might stand a chance.
13
Didn't you know? She's been campaigning for more than 15 years now, website and everything. I've heard her speak, and she makes a lot more sense than Trump.
That wouldn't be much of a stretch.
2
Just the standard GOP agenda. Get in power, destroy the economy. They loose the next election, but then hinder Democratic efforts to fix the problem. After a few years the public forgets who caused the problem and the Republicans run on the the platform that the Democrats are not doing enough to fix the economy. Republican get reelected, start over.
20
I spent 37 years answering high school students’ questions: Do you have a pencil? Can I go to the lav? Is this going to be on the test? I was absent for the last week, did I miss anything?
Little did I know how much I would appreciate 80% of my decent pay in my retirement PENSION. God save the Commonwealth of Massachusetts!
8
Trump has paired Amazon and The Washington Post in tweets and in speeches. He is reportedly obsessed with Jeff Bezos and wants to take him down along with the Washington Post, also owned by Bezos, whose coverage of him has been both harsh and illuminating. So now he has put forth bogus reasons to attack Amazon in a transparent attempt to disguise his real target, The Washington Post. The USPS has stated it makes a profit off its business with Amazon. Trump claims otherwise. His concern about brick and mortar businesses affected by Amazon is about as believable as his claim to being religious. And unbelievably, Trump’s cult like followers are still inclined to give him a mulligan.
29
Bezos is truly as rich as Trump pretends to be.
5
Amazon stock holders should sue the Pres.: Securities fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of securities laws.
26
Starting a rumor is not fraud, especially if one is extra muros of the corporation.
Before all the ultra-liberal commenters get too carried away, it should be mentioned that the recent policy of China has a great deal to do with the phenomenon. New developments have created certainty of one-man rule in China for the foreseeable future, with that Asian nation doubling down on extremely aggressive economic protectionism. The Obama Doctrine of Appeasement has ended in failure. Before criticizing, offer alternative solutions. America's economic future most likely depends upon it. Do not be lulled into electoral complacency. The same dissatisfaction that appeared at the polls in November of 2016, continues to watch events unfold.
5
Can you honestly say that the 2-year-old in charge is the solution?
4
When ultra-conservative commenters from Texas attack in kneejerk defense of their figurehead, I’ll agree recent policy in China has a great deal to do with the phenomenon. And recent policy in China has everything to do with the President of the United States, once considered the Leader of the Free World, ditching diplomacy for a textbook-authoritarian approach to U.S. foreign policy.
Trump and those who elected him have moved the U.S. - and China, and DPRK, and Russia - perilously closer to an unwinnable war, a situation for which they are solely responsible. And after watching half a century of Republicans attempt to pass the buck for the mess they’ve made, it seems there might be a pattern here.
4
Probably not. Nor were his recent predecessors.
When you have a president that loves to create crises through his tweets and angry, impulsive decisions--what you expect? When you have a gridlocked GOP-majority Congress that refuses to act in any way, even to oversee a rogue president--what do you expect? When you have an administration that is peppered with graft and corruption--what do you expect? When it is unclear just how Trump won the election and who is really in charge in DC--what do you expect? Pretty much exactly what we have.
24
I always thought it was absurd that businesses thought Trump would be good for them. In order to thrive, businesses need stability, rule of law, free trade, and a healthy, educated workforce prosperous enough to buy their products. Trump is doing his utmost to undermine all of these. Hopefully, businesses will now finally learn that deregulation and low taxes are actually less important for their bottom line than rational policy and the rule of law.
20
absolutely, and a healthy work force. So a guy that runs a small family business (hotel magnet) on the backs of under paid ( un insured) migrants ( maids) barely knows how to manage his own sock drawer much less a world class economy. The press should have done a lot more exposes on this guy prior to election. The fifth column failed us here I hope they do a much better job the next time. Please
2
@Jon: good luck with that.
He took credit for the Obama era economic recovery that was seven years in the making. A correction of some sort was inevitable and it's too early to tell if this is the start of a dip or a slide into the basement. Either way, it will be blamed on someone.
13
This is not a market correction, it's something else.
Did I guess Jeff Bezos needs to stay more often in one of Trump’s hotels. Or force the Washington Post to become the Trump Post.
As for Iowa, not sure what it did to find itself on the wrong end of the Trump’s Tariff War.
7
Chaos (upside down )theory meets stock market. Folks, the market should be booming up up and away. We got it all low unemployment, housing market on the upswing, cheap money; cheap gas ..so whats wrong. Slowly slowly people with money to invest are realizing something is wrong. Maybe he ain’t so smart. Maybe he don’t hire the best, maybe he wouldn’t know how to recognize the best if he met one. He’s a con and we got conned. ( I pulled out Jan 2017, jus sayin)
17
@Barb: Trump epitomizes the very definition of "Chaos Theory".
That fully half of our citizenry buy into his surreal, can't-make-this-up fantasy world, is truly surreal and deeply, deeply disturbing.
Keep drinking the Kool-Aid, Trumpers . . .
1
So...THIS is what 'running government like a business' looks like? What business successfully operates on daily whims, twitter rages and chaos?
23
The handwriting was on the wall in 2008. This is NOT your Father's circular flow economy. Rather, a giant macro interplay driven by cheap labor which holds interest rates low. Unprecedented supply. Giant experiment hanging by a thread - hold on to your hats. Trump is just further uncertainty. Paul Krugman was correct re Trump effect, timing just off a bit. Personally, I couldn't believe that anyone thought that Trump was good for anything. Dreamers.
11
The Trump slump is not unpredictable or due to his inconsistency. It's Trump being Trump. Immigration control, trade actions against Mexico and China, massive deregulation and tax cuts were totally predictable based on his repeated campaign mantras. Trump is doing what he said he would do, and only failed so far to get Congress to completely eliminate Obamacare. Disregard of what he was saying (and of the likely consequences of his proposed actions) by voters and major institutions is not his fault. Furthermore, Trump's actions and statements on trade and immigration, while extreme in content, rhetoric, methods, scope and timing - and overall of debatable merit - certainly respond to huge existing practical problems of trade deficit and job destruction that damage the US economy and even security. These problems were ignored at this country's peril for many years because many benefitted by actions with obvious downsides. For example, some businesses profited from using cheap foreign labor, damaging US jobs and production capacity. The largely unregulated tech industry, which claimed to protect our right of free expression on the internet, profited from selling away our privacy and the security of critical financial information; and relied on China, which provided them with virtual slave labor, to build our tech devices despite China's reputation for industrial espionage. Any attempt to correct these things obviously comes with a great deal of hardship.
1
Tech is not free of warts or risk. One is that not all these companies are being run in an error-free and entirely sane way. (Mars? Right. Absolutely. Self--driving cars? Sure. Any day now.) Prior and, to an unknowable extent, current valuations do not seem to reflect those risks -- only a limitless, golden, perfect future. Nonsense.
2
How scary is the current political situation in the United States? The president embraces corrupt world leaders who win rigged national elections by extraordinarily huge margins. Trump then calls and praises and congratulates them Putin in Russia and el-Sisi of Egypt. Trump ignores and/or minimizes freely elected leaders of Western democracies. The autocrats are invited to Washington for State visits. What message are we being sent? Trump wants to be an autocratic leader elected by 97% of voters in a rigged election so he can be among the world’s autocrats? Very scary, are the Republicans concerned worried? Is anyone/anything other than the world markets concerned worried?
8
Is anyone home in the GOP? - they got their massive tax cut and could not care less what the con man does next, including naming Judge Judy to S.C.
1
@Art: Trump's only driving force is the continuous feeding of his fragile Ego. Don't hold your breath for any changes there.
Sad. BIGLY sad.
1
Any market analyst who didn't see this coming should find a different line of work.
14
It would be simply sad if it were not so vitally critical to virtually everything we do; Trumps helter skelter method of governing, if you could possibly call it that. While many have seen this as a strategy, I have long abandoned that theory in favor of "what you see is what you get".
In fact, Trump has no policies other than to keep himself in the news and at the center of attention. If that means destroying people's lives (DACA or lack thereof), wasting billions on a wall (while Veterans remain homeless and children suffer in substandard schools) or turning Scott Pruitt loose on us all to destroy the environment, rest assured, it's all about Trump.
So it's time to stop looking for the "hidden" reasons for his actions; there are none. If you just keep this thought in the back of your mind. that he is a world class narcissist, everything else will make perfect sense.
It's that simple.
16
Last sentence; BINGO. If folks would just read: Dr. James Masterson, Search for the Real Self, Unmasking the Personality Disorders of Our Age. Trump is a classic. Absolute disaster. And the band plays on.
1
You hit the nail on the head on all points!...DJT craves the spotlight 24/7 and if that hurts some people, so be it - that’s the price we’ll pay for having so many ignorant voters.
3
Maybe there is a silver lining to all this chaos. If you're in a position to 'buy on bad news', and Trump is solidly bad news, then buy,buy,buy. Once he is removed from office, I think the world will breath a giant sigh of relief and your portfolio will give you a great tailwind for many years to come!
7
In attacking Amazon, Trump is transparently attacking Jeff Bezos because Bezos owns the Washington Post, which, unlike Fox News, tries to report honestly on Trump and his presidency! The contrast between what Bezos has built and Trump's serial bankruptcies tells another story in itself.
20
@Bob Garcia — Whatever the reason, it is no excuse to play with the economy — ours and, by extension, the world’s — in this manner. Trump needs help with his issues of spite and personal grudges.
The office of president is bigger than the man who sits in the chair, and it does not operate in a vacuum. It is a lesson Mr. Smartypants would do well to learn (if he’s able).
4
MDB said "Trump needs help with his issues of spite and personal grudges."
I beg to differ.
Trump needs help FINDING THE EXIT FROM THE WHITE HOUSE. The sooner he gets that help, the better for all of us.
Pence would not be any better, just in a different way. Ask the people of Indiana about that Bible-thumping reactionary.
6
@Joe — Trust me, I am WELL aware of Mike Pence. See my location. (And here’s a heads-up for you all: His brother is running for Congress.)
Until the GOP leadership grows a spine, adequate mental health treatment is most likely the best we can hope for with Trump. Unfortunately, this is not the Watergate era when country was placed before party.
3
When are we going to truly understand that trump has destroyes everything he touches. Narcissists don’t care, they create chaos where none existed, they create turmoil, they upset the natural order of things, they proclaim, only they, can fix everything and ultimately, when the bricks come tumbling down, they walk away and blame everyone calling the system rigged against them.
15
The market is overpriced and bit of a bubble anyway. The markets need to come down to avoid a bubble.
Plus don't most Democrats despise the gains of Wall St and Goldman? Oh wait, this is Hillary Dems, not Bernie Sanders Dems.
Not Bernie Sanders dems with 401Ks.
But are Ivanka's dresses still selling well in Bejing? She did, after all, make that deal on behalf of her products, I mean, "America." And what about Jared's Saudi deal? Will punishing Qatar and naming names to the Saudi prince be all for naught?
6
Unpredictable erratic leader = unpredictable erratic market.
8
By their own activities, any POTUS rarely can boost the markets. The collective efforts of Legislative and the Executive branches may promote an atmosphere where businesses and consumers may prosper. The effect based on forward earnings may improve markets...gradually. Previous eight years under previous POTUS may not have been perfect, but prudent and calm, measured, and sensible behavior enabled the economy and markets to improve and to progress sensibly and without POTUS' interference.
Short-term, POTUS' efforts and influence often damages markets...for example: trade wars, threats to our neighbors to the North and to the South, and prostituting the USA reputation by bullying and intimidating others. POTUS should leave it all alone and let business and consumers work things out.
Now, with a petulant child-man temporarily occupying POTUS, risk and uncertainty is raised. Hence, the managers and owners of security portfolios seek to reduce their risks and are willing to accept lower ROI, so assets may be preserved for more favorable conditions at some future time.
Until Trumpster leaves office, I expect lousy market performance and "head for the hills" / "take my money and run" behaviors.
In 1950 "All About Eve," Bette Davis as Margo said it best: Fasten your seatbelts, it's going to be a bumpy night!
5
I think we can safely say that DJT is not the Wharton School’s favorite alumnus. It’s hard to believe that he ever attended even a freshman class in economics, or wrote a single paper. Penn would do well to revoke his fake diploma.
14
Le prez can't speak or write, and we know he doesn't like to read! What makes you think he attended Penn, other than him saying it??!! Fake news!!
1
The economy has been coasting along on the momentum Obama created and now Trumps chaos is about to put it in the ditch again. He'll blame everybody but Putin....
8
This is not a Trump Bump/Slump; this is a McConnell-Ryan roller coaster ride. As enablers, they have tied our nation's well-being to the hem of this erratic president. Hang on; the ride isn't over yet.
8
Volatility never bodes well.
The halcyon days of sky-high DJ averages are rapidly becoming fond memories, especially when retirement account statements arrive. Yes, a correction has been long overdue, but it need not be rushed by the Wharton School of Business Genius.
It won’t be Trump & Friends reaping the whirlwind with this; it will be those who fell for his schtick in 2016 and the rest of us, who saw this train wreck coming.
8
Is it possible that Trump lets his friends know which companies he is going to trash so that they can short that stock?That would give them non- public information which is an illegal move.
7
An erratic president, a corrupt cabinet, a feckless Congress and a toady Supreme Court... and we expect stability, prosperity and good governance? Each day Mr. Trump is allowed to remain in office is another day of chaos theory proven true: within the apparent randomness of chaotic complex systems, there are underlying patterns, constant feedback loops, repetition. Mr. Trump is either a total fool (unlikely) or a man without a moral or ethical compass (more likely) who has surrounded himself with like-minded sycophants. He hasn't drained the swamp, but flooded it and added creatures at least as bad as those who inhabited it before.
7
This is personal like most of the decisions of the current administration. It will not end until trump is removed from office. Along with the entire administration.
9
Markets did not "climb with trump." They started climbing in 2009.
Now that trump is starting to actually do the things he said he was going to do, the depression that is inevitable from his bungling 19th century economic lunacy is just around the corner.
And there is nobody in his ridiculous clown show administration who has the basic understanding of economics to combat the crash.
10
China owns the US - loans, investments, and they are the source of the cheap goods sold in Walmart, COSCO, and all big box stores. Amazon is a huge employer - and the darling of Americans- Trump is out to kill the goose that lays the golden eggs. His fringe economists have no credibility in the real world.
5
It would be awfully easy to make a ton of money if one knew ahead of time what company Trump was going to attack.
Over at Fox they know how easy it is to manipulate Trump. And they’re snickering about it.
10
Question: Is Trump and his family profiting by a stock sell off because of his actions? Impeachable offense?
4
I think I know how Trump figured out that the USPS is losing money on Amazon. He heard that Amazon Prime members get free shipping!
8
If the strong stock market are what is propping up this horrific administration, then I am willing to suffer its collapse if that will help to remove him. In the end, no one profits from a Russian puppet running our government.
3
This stock market based analysis of our national philosophyis exactly what is wrong with well off humanity. I mean, what does it say when companies get richer when regulations are dropped? Business loves it when they can (say) pollute the environment , make cars that kill you and generally get richer at the expense of everybody on the planet? Making a profit allows profit makers feel
successful but the rest of the world, that is people just trying to survive, feel good if they are just making a living. Arguments about how rich you can get
strike me as ridiculous.
5
Is there anyone who DIDN’T know that his instability and volatility were contagious? Everything he touches dies. Always has. He’s clueless. And he’s constantly on the look-out for new areas upon which to apply his poison touch. Then whine, bluster and blame. Government and international relations are next and are the absolute worst places for such an incompetent to trample.
7
Trump has absolutey no idea how to make any of this better, he is clueless. Just waiting for it to get worse.
7
Trump does know he doesn't personally get the tax write off if he drives America to bankruptcy, right?
9
Go ahead, #FakePresident, keep playing games with the markets. The next protests won't be from people wearing pink hats, it will be form guys in dark suits and wingtips. They (and the pink hat wearers) will cast you and your ilk to the wilderness for a generation.
6
You meant "Markets that climbed with Obama's policies react to Trump's policies by falling disastrously for everyone planning to retire this year", didn't you?
2
There are very few people, in my estimation, who really understand the global economy. So many moving parts it is extremely difficult to wrap your head around. Most Wall Streeters are just salesman, like Trump. Now with the new deregulation, they can rob you blind and you have no recourse. Or poison you. Or deny you medical care. Take your house. Take your pension, And while there may be a temporary bump up in the markets, I think we already had that, in the end ..... watch out below!! This is not rocket science.
3
I thought not paying taxes was smart?
6
As much as I want Trump to fail, and fail miserably, in all of his endeavors to enact policies that are harmful to our country's (and world's) present and future well-being, I hope that his term in office (may it be short-lived) does not bring any economic disasters that we will once again have to dig our way out of. Schadenfreude (which should be beneath us all, anyway) is not ample compensation for the suffering of millions.
4
And the explanation is - It is Hillary's fault. Haven't dragged that horse out of the stable is what, a week?
4
Attacking Amazon for being successful. Wonder if Walmart is behind that?
5
And is the president taking responsibility for the effect of his loose talk on the market???
5
I picture Trump in his bedroom at night, waving his arms and fingers around like a conductor, cackling evilly in amazement at how he can make things magically happen with a flick of the wrist. It is immoral and unethical for a president to have so much personal power over the markets and private businesses, when a nasty tweet can send stock prices falling just because he holds a grudge against someone richer than him.
5
When you get a trump... the baggage that comes with it... is filled with weak, like-minded thinkers.. to suggest, with a straight face, that the CFPB is too strong, is the height.. or depth.. of ignorance and the full erasure of fact!
3
Market uncertainty, volatile averages and indexes- just wait until this Administration is on the ropes, the House has turned blue and djt legal peril hits boil. If the Market is this sensitive to his idiotic policies, I shudder to think how it will react when his Administration is tumbling.
6
Trump attacks Amazon (and almost everyone and everything else), but not a meaningful peep about Russia, Putin or Stormy Daniels.
It does make one question his motive. ("Squirrel!" comes to mind...)
3
One more nail in the Trump coffin. Can you spell ”wipeout” in the 2018 midterms. Of course the Republicans will turn on him and impeach (after Mueller eviscerates him). They’re not going down with his Titanic of a Presidency. They have to protect their juicy benefits, post retirement job prospects and $175K jobs. Trump doesn’t understand that the Republican Congress are at best fair weather frenemies. “Et tu Brute?”
6
Think he and his buddies, if he has any, sold short?
4
Buy on the rumor, sell on the Tweet.
4
If stocks are grossly overpriced, they are bound to go down sooner or later. It doesn't take much to set off a decline, and when this happens, it feeds on itself.
How many people have huge gains in their 401K, who are willing to sell and stand pat for a while? It only takes a few to start the stampede to the door.
2
I just went through my whole portfolio, typing in the current price of each stock I own before the market opens. For nearly every stock, the price was higher than the one I typed in a few weeks ago.
How bad the problem is depends on which stocks you own. Those who went all in on speculative stocks when the market was booming will probably do the worst in any decline.
To my mind the frightening part of this Trump era is that the President is so narrow-minded that he has no grasp on the consequences of his actions. The more frightening thing is that it appears to me our President doesn't decide what to do, but instead responds to direction from the ignorant oligarchs who put him where he is. The oligarchs are so hard wired with their obsolete doctrines that they don't even realize they are destroying what supports the entire country, themselves included. What a pity.
5
What a dope. Attacking Amazon for no sane reason just cost him the votes of the 35 million (?) Amazon shareholders. Not to mention the many dozens of Wall Street institutions that are also its shareholders.
5
It boggles my mind that retirees are holding on to stock as a source of income.
1
Republicans start wars and trash economies
Democrats fix the mess.
Dare anyone to argue those simple truths surveying the last 40 years.
8
It is way, way too late to lament the election of a pompous, ill informed fool as President. But it is time to start thinking about the next two elections, the outcomes of which may well determine if the US survives or completes its disintegration into a banana republic.
4
Who cares? The market was way overvalued. Most people don't own stocks. And most companies/employers are not publicly traded. Presidents don't have much to do with the market anyway, except if they make stupid statements that affect a given stock on a given day.
So the fools that voted for this alleged "genius" wanted a businessman to lead them.What a sad joke. A "really smart guy" who ran an airline, 2 casinos and several of his brands into ruin.How many bankruptcies? He clearly shoots his big mouth off without a thought in his head.
Just remember Michael Bloomberg's words: "If he runs the country like he runs his businesses, God help us all. I'm a New Yorker and I know a con"
Are you tired of winning yet ?
6
Curious how many of Trump’s friends have shorted Amazon stock.
4
Count me pessimistic about the market. I never did believe Trump had as much influence as he thought but I believe that his actions as of late have had a big influence on the market — and not to the good. My 401k had been humming along just great for a few years. It did go up dramatically in the past couple of months up until Trump started messing with tariffs and bashing Amazon. Do you think he could ever possibly realize he is the bull in the China shop — the economic China shop? I fear that he could never admit culpability even to himself. A scary state of affairs!
3
Rather, the Bear in the China shop.
3
Trump's 7th bankruptcy: the trade war that destroys the US economy.
#saveUSfromtrump
5
“Crazy like fox “ as my old mom used to say. The only question is, is he doing this for Russia or US stock traders who know how to make money off a panic
3
So who's the moron-in-chief going to blame now?
2
“I alone can fix it”
“I'm, like, a smart person"
“Oh are you happy you voted for me? You are so lucky that I gave you that privilege."
“throughout my life, my two greatest assets have been mental stability and being, like, really smart”
“I'll choose the best people for my administration"
These statements do not inspire confidence. What you are seeing, after a 12 month mirage, it the real effect of DJT.
Sigh.....The late, once great, United States of America. Thanks, it was awesome.
4
When all your most trusted advisers have day jobs over at FOX, what do you expect?
5
Outside of the tax reform plan, which was Paul Ryan's baby......when Trump put up......markets did well. When he speaks.....his policies....tank the markets. Shut up, Trump
2
I am holding that jerk personally liable for the decline in my retirement account. Get ready for another round of lawsuits!
4
Yaah Tailas you tell em!
So much for a "business man" knowing anything about how to run an economy. Trump is acting out his 50-year old biases that he inherited from his daddy. He never grew up. Never actually "learned" anything. He just regurgitates daddy's words and thinks he knows something. The thing is, he told everyone exactly who he hated, what he hated, exactly at he was going to do. For some reason his supporters didn't believe him and went along with short term gains he showered on them. They forgot about long term consequences. I suppose because he is also a compulsive liar. Now we all suffer due to people who are just too stupid to see the facts right in front of them. Shame on them.
5
Unhinged, unqualified and joined at the hip with Putin. Come on McConnell and Ryan, do your jobs and check the chaos with the tools you have. Or do prefer to ride with Trump to the bottom? At this point, impeachment is viable.
PS - Trump is a fool if he thinks he can take down Amazon.
4
Perhaps more and more of these so called "Industry Giants" have realized the Emperor Has No Clothes"?
Trump is a fool. Only Fools follow him....
10
Surprised Trump isn't blaming the stock market drop on his favorite trio of baddies: H(illary) O(bama) D(emocrats). The Mueller investigation must be getting close for Trump is rant and flail the way he has during last week. Now he's calling on his pal Putin to come and rescue him.
8
Could it be that the geniuses of Wall Street are starting to realize that the benefits of deregulation and lower taxes for the wealthy do not, in the longer term, compensate for having a moron in the White House?
11
@Phil:
Nice notion, but unlikely. They've drunk deeply of the Kool-Aid, and are blinded by their own avarice. It will take a complete collapse of our financial system before they hit enough of a disastrous bottom to realize their ignorance.
Tragic, and and sad. BIGLY sad.
1
The markets supported Trump. Let them reap the benefits of their stupidity.
5
He's off the hook. His nonsense is affecting everyone. The whole world is teed off. There's ways to do things and there's ways to do things. And these guys, trump & co. don't have a clue. Now he's ranting about DACA. Then it's the media. Then it's those filthy Mexican's. The Chinese..... And round and round we go like a toilet that's has flushed. One way to go ......... down. It's scary what this moron can do with the whole weight of the U.S. economy & the military at his disposal. The world wants to do business and try to solve some problems, gain some stability. And we have an extremely unstable person at the helm. All over (the planet & here) I think people are getting very tired of it.
13
The stupidest people in this country right now are the ones who continue to believe that the economy and the stock market are going to protect them from the ongoing idiocies being perpetrated by Donald Trump.
17
Lying hypocrite and his sycophants never stop talking about the stock market -- which isn't the economy -- when it goes up and when it goes down not a peep. People: You must vote for all Democrats on Nov. 6 and rid us of this evil.
9
The Trump's reality of stupidity started to get real now with the U.S. stocks pluming down reflecting the Republican Chief Donald Trump's stupidity and ignorance of economics, Trump's secone grade education is not even enough for cleaning the toilet! Kick him out of the White House and lock him up.
8
Presidents have limited ability in moving the economy and its not equal. 45 is demonstrating that influence. The rump bump that began after his election had two architects. First and foremost was the slow growth from the Yellen and Obama policies. Then came the wrecker in chief ready to unshackle the might of American industry by destroying the regulatory agencies "killing" economic growth. Most of that growth was speculation. Both productivity and wages have lagged, striking with a 3.1 unemployment rate.
But presidents can drive the economy down with irresponsible actions and unpredictability. Welcome to the rump slump. We have a CiC wrecking the very principles that created the post WWII economy - what made America great. First is free trade and now laissez faire. The president is not supposed to pic winners and losers in the market place: "Sinclair good W.P. bad"
etc. Both were bedrock republican principles.
Which is better a slow steady policy, it ain't exciting, or the rump free fire tweet zone roller coaster? Get ready, that climb took us to the summit and now the ride begins. Destruction of free trade, trade wars, unpredictability (especially from POTUS) incompetent managers.
Turns out its easier to have a negative effect than positive one. real growth is slow steady built on policy. Policy is the foundation of economic growth. djt foundation is built on "I alone can fix it", the shifting sands of a mad man. Rule #1 its not easy. Buckle up America.
7
@David Melli:
Superb analysis.
2
“The Lord give’th, and the Lord take’th away ...”.
—- Apocryphal
It was a great party, while it lasted. After Trump’s election equity markets skyrocketed because they believed one nation under Trump would be transformed to their benefit.
‘Drain the swamp!” became “In Trump We Trust”. Even Christian evangelists said it. He might be notorious — con-man, philanderer, swindler and pathological liar — but America would be transformed by Trump.
He promised to make America great again! Everyone would be rich, Latinos deported, black people put in their place.
So, they danced until they couldn’t stand, gobbled Trump canapés and guzzled Trump champagne (a decidedly toxic brand) until bellies burst from gluttony and it squirted out their ears. And why not? America would be great again! Everyone would be rich! Trump promised.
Trump promised them everything.
Trump promised everyone everything.
But while they danced Trump, their party’s host, robbed them blind — their children and grandchildren especially — by mortgaging their future. So, when the band suddenly stopped playing at the stroke of midnight the still-intoxicated revelers discovered their party over and they couldn’t stay.
That’s when they also discovered that their coach-&-fours now were pumpkins drawn by rats. And while those trudged across a looted scree Trump, their host, danced the night away at a private party of his own, singing to his assembled cronies “the world is mighty fine now that everything is mine!”
8
Roy Cohn,your daddy and Russian oligarchs can’t bail you out of this one...and it looks like the rest of us working little people will take the hit. But what do you care ? Go,leave,and hole up in one of your golf resorts,surrounded by your rich cronies. #toxicpresident
4
This haircut filed 4-6 bankruptcy's and has had over 2,000 law suits against him; should we be surprised that he will ruin the economy? Uncertainty is a main cause of stocks falling and 'we' are in headed for another major recession. Thanks to the GOP and the haircut 'we' are past doomed.
7
Mr Trump was more than willing to claim credit for the market increase, yet will, I have no doubt, blame others for the market drop. It is part of the pattern he has based his life on: privatize the profit, socialize the risk.
10
The Disaster-in-Chief and GOP strike AGAIN!
Just recall, President Clinton left George W. Bush with a massive surplus, and Bush squandered it and blew up the economy in 8 years, in part because of deregulatation, excessive tax cuts, war spending without any concern for how to pay for it, and gross incompetence.
President Obama spent EIGHT years repairing the economy, which was severely damaged when he took over in 2009. It was in freefall. He righted it, and we had 8 years of growth. But the Right and even the mainstream media dogged him out nonstop, mocked him, refused to give him credit. The Dow that went from roughly 7,000 when Obama took office to 19,000+ when Obama left office! Where was the praise for that???
Now we have a raving buffoon in office whose associates may have conspired with a hostile foreign power to get him elected ("treasonous" behavior, according to one of them, Steven Bannon), a man who shuffles his Cabinet like a bad 3-card monte player, who lies incessantly, who basically only gets his information from a known propaganda outlet, and who is trying his best to destroy everything his predecessor left us, including the economy. And people continue to defend him! It's would be tragic if it weren't such a dangerous farce.
15
Presidents aren't responsible for market performance, but this one time, I'll make an exception. Mr. Trump proclaimed repeatedly that he alone was responsible for the market's growth since the 2016 election, so if he's responsible for the rise, he's responsible for the fall too. However, thus far, the narrative from Mr. Trump and his followers has been the exact opposite. He/They want credit for the rise in the market, but it's someone's anyone's fault for the drop. Frankly, this is just a correction. What that's painful for some (more so for small investors than large), it's a natural function. That volatility of the market however is a very real reason why we shouldn't go about privatizing Social Security. You don't get to pick when you age, so it's not possible to say "I'm 70, and the market is down, but if I just wait another 10 years, I can retire effectively."
13
Thank you Mr. President for not allowing China and corporate America to push around the working man any longer.
Hillary bored us with how she planned to do things. Trump didn’t. Now we know and it’s a nightmare.
14
Surprising the Times doesn’t cite the deficit and corresponding govt debt balances and interest burden. These impacts are meaningful just around the corner not 20 years down the road. The corporate tax giveaway left us juiceless to address real economic problems and Congress has abandoned the fiction our leaders are prudently planning our economic future. History shows how de facto bankrupt countries and economies fare, not well. On top of that who here thinks Trump lasts 4 years which is very bad for the country and economy appropriate though it may be. I don’t think it is tariffs and anti-Amazon baloney.
3
On a daily basis, this president shows the American public how inept and heavy handed he is about other people's money, and yet he will not expose his tax returns to show US how he makes his. I agree with the patriot from Maine: it's time to reverse the damage and vote in the upcoming elections.
14
Retired people who have IRAs that require Minimum Required Distributions are going to get hurt. The minimum withdrawal they are required to withdraw is based on the value of their IRA on December 31, 2017. As their portfolios shrink the amount they are required to withdraw, and pay taxes on, will be a larger portion of their portfolio when they make the withdrawal and tax payments.
9
I do wish Trump would stop trashing Amazon. In addition to 401k and stock losses, he will cause job loss. I just discovered the marvels of Amazon recently after ankle surgery made it impossible to shop as I usually did. With Amazon and local grocery delivery I was able to live comfortably until I could walk again. Unlike Trump, who most likely has shopping assistants and even shops that will come to him, I don’t! Even now it’s hard to walk long distances so Amazon makes it easy for me to find what I need all in one place. Amazon also makes it possible to get items unavailable in local areas. I, too, like to support local businesses but when you can’t, Amazon serves as a one stop online mall.
9
Vote. Vote against anyone backing trump and his cronies. Support folks who will hold him and his backers accountable. Our Great Country needs checks and balances now more than any time in my 57 yrs.
14
These gyrations are still the market worried about the demagogue Trump.
However they are just that.
While nobody can predict exactly what the market will do especially in the short term, look for a probably repeat of pre 2007 ie where the republicans let wall street run wild till the market crashed in 2007.
A similar thing is happening here. Corporations and Wall Street are giddy re their trillion dollar rifling of the treasury with the tax cut.
With more trillion dollars deficits coming, look for the next crash sooner or later.
There is no such thing as a free lunch
11
That there was going to be a bump and slump was completely obvious by the spring of 2017. That is when I stopped putting money into the market. The S&P 500 is still 10% above where it was exactly one year ago. I will only start to get concerned when it falls to where it was in November 2016 just after Trump won the election. The markets have been in LA LA Land since that time.
2
The markets have been in la la land for the last decade
2
This drop in the stock market is a mere correction, which reflects the reality of the new Trumpian political economy. Once the world realizes that the USA will no longer be bullied as it has been by foreigners for the past 40 years, the stock markets will rise to heights never seen before in the history of investment. The problem is that the fickle Wall Street traders, whose year-end bonus, depends upon profit do not have the patience, nor the stomach, for this new reality. Well, I say get used to, get with the program, and man-up!
2
When has a President of the United States, in modern times, singled out a specific company and its CEO for ridicule? I Remember back in the 50s an industry was identified and warned about its practices, but never a single company and its CEO. Do stock holders have a case?
16
Did anyone think the markets could continue to go up at the pace it was running? It’s a reversion to the mean, the holy grail of stock market laws.
If it wasn’t Trump or China or Facebook, it would have been something else.
Let’s see where we are in September.
3
And as far as his trade war with China, I have very little faith that Trump has the insight or intelligence to deal with the Chinese who at this point operate from a standpoint of practicality rather than emotion or ideology. They are far more grounded and sophisticated than Trump can ever hope to be in the areas of the global economy and effective diplomacy.
25
"45" going after Amazon just makes me want to use Amazon all the more.
36
The markets were primed for a correction years ago, the only thing that kept them aloft for Obama was the Saudi stimulus package which exceeded $1 trillion/year in the US alone.
1
Maybe Mr. Trump's supporters will figure out that he provided them with a quick and cheap sugar rush?
But, after it brings you up a bit, it drops you farther down than you were before.
I'm convinced more and more each day, that he is not only ignroant and impulsive, but incredibaally dangerous in the long run.
45
These geniuses(including B.O.), taking interest rates down to effectively zero, drove people into the inflated market causing this bubble. If people could have parked their money in a bank and make 3-4% interest on a CD or passbook account, the stock market would be closer to 15,000 now. So maybe some of these high flying tech stocks don't deserve P/E's of 300 after all?! I hope the soybean producers here enjoy their "winning" with the new, brilliant tariffs. A very small violin plays in the background.
9
Do you even know why interest rates were near zero? Go back and look at the circumstances behind the 2007-2008 financial crash and Great Recession, sonny. That was a very scary time for everyone. Those rates went to zero because banks were sitting on huge piles of cash and refused to loan it out. The economy was grinding down and bleeding jobs. Low interest rates were maintained to try and spur an anemic economy brought to us by the “corporate self-regulation” attitudes of the last Republican administration, Dubya’s.
@Brain...The banks get to make money lending out MY savings. My return? Nothing. A good deal for the banks....not so much for the little guy. In the period you reference, banks were packaging CDO's and other dubious products and bankrupting Australian pension funds and cities in Alabama. These crooks NEVER went to jail. Whoever is president, from either party, we always get GS running the show. Bigly sad.
The young people of this country give me hope.And the boomers.We can begin to change this in November 2018.
33
Most of us have come to the realization that trade wars hurt every one from consumer to producer. With this retraction in the market place, business growth (and risk) is stifled, which means "sell" on the stock market - not rocket science although seemingly so to your President who bragged about what he meant to stock markets.
16
We have to be fair. Even in a stock market recovering from the worst debacle in 70 years, Obama had negative quarters for the S&P 500 25% of the time. He had two consecutive negative quarters twice in the 8 years. If we are going to blame the President (questionable at best, though perhaps justified in this case because he took credit when it was rising?), Trump now has 20% negative quarters and no instance of two consecutive losing quarters. But again to be fair, since 2009, this WAS the WORST quarter (capitalization to mimic Dear Leader) for the S&P...
7
Am waiting for the Dow to triple under Trump like it did under Obama's terms.
2
Apparently you forgot about the Great Recession triggered by the financial crash of 2007-2008, which began under George W. Bush, a Republican.
Before you go accusing people of things, it’d help your argument if your facts were first accurate.
2
There is a Trumpian way out of this mess, if Trump chooses it: Declare that the tariffs have done their job. Declare that the rest of the world is on its knees in deference to the US. Declare that Trump has negotiated new trade agreements that are better than any trade agreements in the history of the world. Declare that America has been made "great" again. Then end the tariffs, watch the market recover a bit, and take credit for the recovery. Of course, fake news outlets will try to call him out because they always make sad attempts to undermine his greatness, but real Americans will know the truth. Then maybe he won't have to start that nuclear war.
16
Reports were that DT announced to his wealthy members down in Florida that he had just made them richer because of his tax cuts (aimed, of course, toward his friends, family & club members).
What will he tell them now?
22
What did Trump think would happen? Trump doesn't think two steps ahead. He obviously didn't consult his experts. He thinks of something, and doesn't consider the ramifications. Nor does he have the desire to learn.
Why has he failed to discuss the markets now, and why investors are jumping ship?
He is not the "genius" he purports to be. He's the fool of the century.
39
The stock market (and many other markets, too) have been overpriced for quite some time. Now, they are less so, but still have a ways to go to get to the long-term norm and much further to get to the low before reversion to the mean. Trump will likely make this downward swing much more violent and scary, but this is the way the global economy works as it responds to inspired leaders and then crazy ones. We are in a period when crazy ones are ascendant, so tighten the grip on your wallet.
8
Markets grew in a parabolic fashion over the past cycle, far outpacing real economic growth and driven by factors such as money printing and unprecedented loose policies by central banks. Now that these factors are slowly reversing, it is natural that the stock markets would correct to a level more aligned with economic growth.
4
Alas, I have too many eggs in one basket....
I am a Fed, thus dependent on the whims of the pres for raises, and in the TSP for my retirement (again, dependent on the president's whims)
I will be the last of the boomers to retire, meaning I will begin my withdrawals during the peak sell-off years.
I want security. How do I get it?
6
If you want the economy to boom, let more immigrants in and encourage innovation through scientific discovery. Unfortunately, Trump is going in exactly the opposite direction: he's restricting immigration and discouraging science.
Is it any wonder the stock market is dropping?
Additionally, Trump has missed the boat on the changes our economy will have to make to address Global Warming. This could have been a great jobs engine, but cudda, woulda, and shudda just don't cut it in today's competitive world.
33
One only needs to take a cursory look at Trump's past to see that he always starts off with what seems to be success and then wrecks everything he touches. The man bankrupted a casino for heaven sakes. A casino! So it will go with our economy.
40
This stock market behavior reflects much of Trump's longer-term effects. Initially there is an unbounded enthusiasm as regulations are weakened and businesses are given a free hand , so the market rises rapidly, almost violently. But as the true nature of the administration is revealed--its ignorance of economics , its unreliability and quick changes of mind and mindless decrees, its rapid blaming of others for its its own limitations, its lasting focus on really small things while ignoring big issues, its willingness to play games with truth--in the long run, it can't last and as that realization takes hold, the market drops, drops , drops. If we can survive Trumpomania, it will be a blessing.
35
While I pray that nobody suffers another painful loss on the stock market like many of us did few years ago, I have been very surprised that Wall Street has been on a merry race to the top for a full year. The uncertainty alone should have given the markets pause, and yet it didn't.
We are living the most volatile Presidency in our history. Trump is, on a daily basis, threatening trade deals, titans of industry he doesn's like e.g. Amazon, Time Warner, Carrier, Ford, etc. and many of our commercial partners.
This administration has the highest turnover in the last 100 years. He has yet to appoint the "best and brightest" to a very swampy cabinet. On top of that, we cannot be sure Trump will be able to finish his term because in addition of his many, many legal entanglements and conflicts of interest, he has a very serious Russian investigation which has yet to be concluded. True, innocent until proven guilty is applicable here. But there is a natural uncertainty on the expected report(s) which cannot be denied.
Shouldn't all that have affected markets all along? It is time the markets hold Trump accountable too. I am just saying .....
27
The stock markets needed a correction. The problem with the severe trade issues with China is a result of past Presidents of both parties kicking the can down the road and letting China get away with economic murder. Solar panels once made in the US selling for $500 now cost $200 from China as they are 50% financed by the Chinese Government. They put almost all solar panel companies in the US out of business. Trump is now standing up to China but the media does not like it. If Trump walked on water, the next day the headline would read "Trump can't swim."
1
We have nobody to blame but our own blind ideological rigidity which says that governmet is bad and unfettered markets are always good. Historically, when faced with the prospect of imminent economic transformations and the development of new industries, governments have made necessary and successful investments to spur the rapid development of new industries with "seed monies". 15+ years ago, both Germany and China saw a big role for government in getting the solar panel industries moving. We had one small failed seed money project and returned to worshipping at the alter of unfettered markets and government non-involvement. The result? Germany and China are now hands-down the world leaders in this technology. This is not due to China's "economic murder" but to our own stupidity.
1
The fact is that Trump is reckless and careless, not some straight-shootin' John Wayne figure riding in to save the day. Those who ascribe to the characterization of Trump as a no-nonsense leader putting a stop to nonsense run amok deny the actual complexity of life. Self-comfort and tragedy combine to broadcast horror.
1
Just as it took Obama a year or two to turn around the Bush economy, it's going to take trump a year or two to turn around the Obama economy.
And based on his record of bankruptcies this is not a good thing...
20
Maybe Trump is trying to create the dystopian country that he fabricated his bleak and dispairing inauguration speech. Every move he makes, from his personal life all the way to relations with other countries be they friend or foe, seems to be engineered to disrupt and divide. Starting a trade war just fits the pattern.
26
Trump brings uncertainty and risk. The fact that the markets went up last year makes no sense given the added risk a Trump presidency brings.
9
Theoretically, If Trump plans to go after a company, say Amazon, and he tells that in advance to, say, Don Jr., the possibility exists that Don Jr. may tip off his friends, or the people who handle his finances, and his Dad’s. Great investment information, no? It’s a relief that their ethical standards are so high that that is unthinkable.
22
On the tariffs subject: why don't Democrats and other reisters call the tariffs what they are, a Republican tax increase?
18
The Dems couldn't fight their way out of a paper bag.
Or we could call them attempts by our “ Manchuria Candidate” to mess with both Russia’s Cold War enemy China and the US economy.
1
Trump's war with Amazon may be causing the stock market to go south, but it seems like just another one of his delusional, TV fantasy rants ("this will be changed," etc.). It just seems to me that he's governing by living in a fantasy world of all his "excellent" deals, and no one really wants to work with him because he really doesn't know what he's doing, but his idle threats can affect the stock market.
16
He is 100% delusional and therefore dangerous.
2
Traders are overjoyed at the volatility in the market. The get to use the hyperventilated news of every Trump pronouncement to declare that the apocalypse has begun and short the market. Facebook now ranks with Putin on the volatility index and rumors of trade wars are always a good excuse to panic the market. Trump has it in for Amazon and traders sell sell sell! Meanwhile no bubble has bursted. Our economy is roaring along and unemployment is at a all time low. So why the sudden drop in the market? Let’s see, how do traders make money? Think about it.
7
Trump's attacks on Amazon are based on demonstrably false statements about its contribution to USPS losses and lack of tax payments to states. Most companies - and states - would be having financial problems if they were forced to fully fund their pension liabilities the way the Postal Service is. Yet his ignorant base will never know he's tweeting out of his posterior because their media sources don't point out those facts. In the meantime, I can't help but think Trump's issue with Amazon is really that he's upset that Bezos is a real billionaire who made his own fortune without filing for serial bankruptcies or stiffing his contractors. The fact that he owns the WP, which isn't afraid to point out Trump's ignorance on just about any topic, is just salt in the narcissistic wound.
50
...and the fact that Amazon’s CEO owns the very liberal Washington Post.
It is unpatriotic for President Trump to lash out publicly and repeatedly against American companies without providing evidence of some impropriety while not being equally or more guilty in invasion of privacy issues (NSA-Edward Snowden for example) or any logical, rational based arguments/facts in threats to pursue legislative remedy to 'level the playing field' against a specific company though industry after industry has consolidated in congress-rubber-stamped metastasized mergers. In the Trump age of roaring mommy policies out with deregulation machismo, Trump wants to clamp down on a group of self made billionaires who epitomize the American Dream? Have we reached a new level of unhinged in America today? Is unhinged the new American patriotism?
22
So are all the trump voters happy now? With all the chaos, instability of the markets, US not leading in the World anymore. Are you satisfied with all the lies, investigations since day one, the national embarrassments of the vulgar things he says daily about other world leaders and our own citizens? Did you all get tired of Obama's stability, climbing of the stock market, every month he was in office or the unemployment dropping every month for 8 years? Did you get tired of Obama's elegance of speech, intelligence, health care for the poor and millions of others? Did you get tired of Obama's environmental protection agency regulating all the poisons in the air and drinking water or the Consumer Protection Agency making sure average people will not get cheated like in the past? For these reason's and so many more to list here: Face it people: trump is a huge mistake ON ALL LEVELS!
71
Obama was and is 100 times the man Trump could ever be: as a human being, as a leader and statesman, in intelligence, in accomplishments, in honesty and integrity, as a husband and father, as a speaker and communicator, in his knowledge of the world and US history, in empathy and fellow-feeling, and as a citizen of the people by the people and for the people.
Trump senses all this and can’t stand it.
41
So perfectly said Richard, my heavy heart could cry . . .
3
Anyone tired of winning yet? trump has broken the oath he took on his inauguration. Defend the Constitution, he has ignored it. He is giving comfort to our enemy, Russia. GOPers in Congress are also treasonous. The House Inquiry, I would call, criminal. And as corporations head for the toilet, with the emperor’s trade war, those corporate welfare tax reform will not be paid for. Free money for all of us, right? Wrong, it’s a credit card that will become overdue. That is what trump is good at, bankruptcies. Congress, do the right thing!
30
"Animal spirits": an expression appropriate in so many ways in the age of Trump.
10
Maybe when Mr. Trump's base sees their retirement plans drop enough, they will wake up & vote out this Congress.
21
My retirement plan is still a net 30% gain since Trump took office. Don’t be surprised if the stock market goes up 400 points today. What’s happening in the stock market has very little to do with Trump.
1
Trump will end up will crashing the economy, just like the last Republican President. Everything this guy touches turns to dust.
Stiff your creditors, declare bankruptcy and sue everyone will not work for the whole country the way it has for Trump Inc.
35
Has any one seen the tweeter of ill repute celebrating the 3.5K drop in the market since he decided to penalize the American economy with tariffs on our friends, neighbors, and the Chinese? Thought not. He cannot stutter with twitter.
15
The market has been oversold for YEARS, and the run-up since Digit was elected just added to an extended period of what I have decided to call (in a new phrase, sure to catch on in the financial sector) Irrational Exuberance.
The "correction" is so tame....so modest....so timid....that it really counts for almost nothing in my estimate of where the securities markets should be. But it does please me that this know-nothing "president," who hastened to claim credit for the unfounded and speculative jump following his election, must now accept responsibility for a change which (in the real, hard, unfiltered scheme of things) is no big deal at all.
5
The working class Rust-Belt Republican voters who supported this con man will suffer the economic brunt of his misguided policies and leadership. Of course, they will keep crawling back for more self-inflicted punishment from the Republican Party, because at the ballot box, social ideology “trumps” economic self-interest.
The Democrats are the closest thing we have to a party of workers, the poor, the underprivileged, and less well-educated. However, Democrats’ insistence on infusing their popular economic positions with the rhetoric of race, gender, and individual identity, while downplaying American national identity, is harming their chances of recapturing Congress, just as it did in 2016.
The conversations our society is now having on race, gender, et cetera, are much needed, however as a political mantra they are a losing bet for the majority of American voters. And as a result, the whole country is hurting because of Republican upper-class-first ideology. If they want to win big, Democrats need to stick to a winning platform: working class economic policies and social libertarianism.
Police brutality is terrible, but have we completely forgotten the unjust War On Drugs, which continues to disproportionately punish black and brown men for so-called “crimes” which have no victim? Where is the outrage here? If Democrats want to adopt an actually winnable social justice issue, they should fight against the War on Drugs and other government overreach into private life.
21
The war on drugs is really a war against blacks. They've been persecuted in relentlessly since they were extracted in slavery from Africa.
3
I completely agree with you. The war on drugs is a political war, and convicted drug users are political prisoners. It might be our nation's biggest crisis, but we rarely see it in the headlines.
1
Is there any rule that requires us to continue paying attention to this grossly deficient president? Is there any reason the Senate and House of Representatives cannot use their respective powers to address this situation? Too many of our fellow citizens may have made a regrettable decision on November 8, 2016 but for the sake of us all, we should not continue down this dismal and abysmal path. The sooner we effect the clearly necessary change, the better off we will all be.
31
Stephen ,
You say that many find their vote for Trump regrettable . Maybe so , but unfortunately I can almost guarantee that the majority of those who regretted their vote will vote for him again.
1
America (or more specifically Trump and his supporters) is conducting an interesting experiment.
Time will tell whether decades of free market capitalism coupled with globalisation can be undone (or at least reversed in parts) for the good of Americans.
If it is successful, it will devalue many of the other international trade deals that exist in the world, as other countries who feel they got a raw deal, will also consider reneging on such deals ... enter the age of protectionism, and possibly world recession.
If it's not, many Americans (present and future) will suffer for this rolling of the dice. Sadly, these will be overwhelmingly low-to-average income people, not the well-off and powerful (and some very particular sections of society), who fiercely supported the experiment.
America - once the undisputed champion of the free market - would've relinquished this mantle because of the dilution of the trust and international relationships it has forged over the years.
So ... you've got to wonder - is this really a worthwhile gamble?
If China is behaving, why wouldn't you simply raise this with the WTO - get the support of other countries - and, if proven, punish them accordingly?
4
Radical environmental deregulation that has a direct causal link with climate change will eventually have larger negative effects on the economy and stock market after this temporary bump in up in the stock market. Scott Pruitt and Rick Perry will be the ultimate villains in the history books when the Trump era is over.
14
David you are correct.
As the US ramps up it's carbon emissions, and increases environmental pollution through the trashing of the EPA and regulations, fewer countries and consumers will be willing to purchase American goods.
You're on the path to irrelevance.
The market has topped but it will take some time before it becomes evident to some.
Irrational exuberance would be an apt description.
The problem is that the GOP has a loaded debt bomb with it's tax scam and they will try to shift the blame when the full impact is felt. We should ask every Democrat running for office this year- will you repeal and replace the GOP tax scam. If they will not, do not give them your vote.
25
And for the folks who got out at the record highs, as a Director at the former Ford Electronics Division used to say: In adversity there is opportunity.
For the bag-holders, well as many have been saying, a correction is coming and it has arrived. Of course, Trump caused it, you betcha.
4
Good point that this is a complex, many sided issue. And yes, it is nice to see Trump move on from coal miners to the needs of retail workers. However, saying Amazon killed retail is kind of like saying Boeing killed transatlantic ocean liners. Or HP killed the slide rule.
18
That was Texas Instruments that killed the slide rule...
Let's make America broke again!
18
Unfortunately, the cattle, grain, and other exporters - many of whom voted for our impulsive, uninformed, and dangerous president - join increasingly disillusioned stock market investors in realizing that we need the "change" championed by his predecessor, Barack Obama. Mr. Trump has no sense of the magnitude of his job or the instantaneous response of his, quite frankly, stupid, statements and actions. Nor does he understand the concept of measured and/or incremental use of his awesome power. Time for the Democrats to take control of both houses of congress, and for Mr. Trump to be impeached for gross malfeasance alone.
47
Unless it was his handlers at Fox and Friends who told him to do these things... or Putin
1
No one is surprised by this ineptitude by Trump. Really.
His supporters will continue to support him and his detractors will continue to accuse him of many things.
I am one of his detractors. He's a terrible president. It's really as simple as that.
60
Turmp's going to learn that a lot of voters enjoy the price & convenience of shopping on Amazon. And he's going to learn that a lot of people work for Amazon. So, much like Hillary's coal miner quote.... voters are quite likely to do what's best for them and leave Turmp to his insecurities and inferiority complex.
32
When will the Republicans wake up and get trump under control. Just think this guy has the ability to launch a military or nuclear strike. Wake up people we have a dangerous man in the Whitehouse.
17
They still like that about him.
The markets have risen in the past 12+ months for no good reason, which is to say all the wrong reasons. A crash is inevitable. Mom and pop "investors" are getting played once again by the pigs.
17
In other words, the market only began to tank when policies favoured by Tump and the Republicans came into effect.
28
When you make a deal with the devil, every day is pay-back day.
14
Trump has got to go. There is no other way. Done.
24
Do you think he'll blame it on Obama or Hillary? Maybe Amazon? California? Mexico? China? Mueller? My bet is Obama.
35
Tax cuts and deregulation caused the hysterical stampede that was the Trump bump.
The same investors are now realizing that’s all there is and that their new POTUS is an ignorant, incompetent, reflexive liar.
As Leonard Cohen put it:
“Everybody knows that the boat is leaking
Everybody knows that the captain lied”
31
Some of this is not Trump's fault.
Facebook in bad odor over privacy concerns.
Tesla in bad odor over crashes, and also over manufacturing mistakes (aggressive robotics not so great after all). Battery fires are not getting much attention now, but they will.
Uber and the whole autonomous vehicle scandal (experimenting on public roads, which Arizona should never have let them do.)
Amazon--well, Trump's motivations are clearly impure, but he's right: They're killing retail and treating their employees unspeakably.
The shine is off Silicon Valley. They're finding out the hard way that the manufacture of complex physical devices does not scale the way software does. Also that people are finally figuring out that when somebody says "disruptive" what they mean is "illegal."
The part that is his fault--fear over trade--is most definitely his fault, and I'd like to see which Trump-related entities and Trump buddies sold ahead of the market.
And I wish the Times would take a closer look at a very basic issue: Trump's self-dealing. The first definition of corruption is "using public office for private gain." Never mind the Russkies. Trump is using the Presidency--blatantly--to advance his business interests, and one would hope that at long last this should be a situation that is intolerable to all elected officials.
Except the Congress is on the take too, and as grandpop always says, "There is only one Party, The Money Party."
15
We were still operating under the previous administration's budget when the stock market was climbing, thus it was still Obama's economy. Now that Trump and his minion in the House and Senate have passed and signed into law their first budget, this is Trump's economy and Trump's stock dive.
24
People are using the market correction to bash Trump. There are plenty of reasons to bash him, but the plunge in stocks isn't one of them. Just about every major analyst has been predicting a correction for the past three years, since well back into Obama's second term. Instead we had two modest corrections in late 2015 and early 2016, resulting in a market that just before Trump was elected was no higher than its July 2015 peak. Then came a surprising 40% rise that was as obviously unsustainable as it was initially welcome. We all knew a big correction was looking for an excuse to happen. Trump provided the excuse but it would have happened some time this year in any case, and the longer delayed, the worse it would have been for those who got in late.
I have to say, too, although I've lost a lot of money in the past 10 days, someone had to take a close look at how the Chinese operate, and an equally close look at the concentration of power in the tech and tech/retail monopolies. A smarter man would have waited until after the correction to mount his attack, instead of making the latter the catalyst for the former.
3
And trashing Amazon with, er, lies and starting a trade war with China and nearly everyone else had nothing, nothing to do with it of course. Just one big coincidence. Gotcha.
I did not ask for a meager tax break from President Trump. But be assured, the President has just cost me more money in retirement than he'll ever save me through his misguided and mean tax cuts.
73
You have to hand it to trump and the gop - in their desire to trash our country they’re doing a bang up job. In fact, it’s the only thing at which they excel. And as for the rest of us SSSPPPLLLTTT!!!
9
Besides Xi, remember Trump's other BFF from China, Jack Ma of AliBaba?
And remember all the patents granted to Ivanka Trump in China in an exclusive deal unlike any other granted to a Western business?
If Amazon falters, who will likely dominate e-commerce worldwide?
Observing the payoffs to Trump from Russia and other sovereign entities (and the vengeance wrought against the Qataris who would not cough up the millions to shore up Kushner's shaky real estate), do you really think China would miss the opportunity?
Will the tariffs against China end up as nothing more than smoke and rhetoric, leaving the US in even a worse position than before the staged "trade war" started?
Mr Sorkin, could you please spare a moment from your morning TV sweater promotions to look into this?
9
Finally, a remedy for extreme income inequality!
3
I hope he takes credit for the fall!
5
Hope all those "Trump Country" voters enjoy all the "winning" going on while China cranks up the tariffs. Oh, wait, I guess it won't matter - I forgot about all that fat cash that is in their pockets after the Trump tax plan went into effect. Or maybe they will be able to get jobs mining coal.
Starting to wake up yet?
27
The market has been toppy and overbought for about a year. Way overdue for a big correction. Ain't it just like Trump to call the market wrong and lose money! I bet it wipes him out.
7
He claimed the credit for the bull market which he inherited from Obama and that Wall Street kept going in anticipation of the favourable tax policies he would procure. Credit owed to actual Trump economic policies: zero. Now that he has effected actual economic policies, the markets tumble in reaction. Credit owed to actual Trump economic policies: all. Given any more time the man will destroy your country and drag the world into a mess largely of his making.
22
The Fed giveth, and the Fed taketh away.
3
The only way to end this destructive nonsense is to elect a Democrat Congress in November. Nothing less will stop Trump.
26
The US economy is like a solid, steady revving, painstakingly tooled vehicle. Currently with a drunk toddler at the wheel.
18
The market is 2000 points higher than when Trump was elected. Your gloating is premature. The market is extremely volatile and could easily rise 1000 points back to its historic highs in a week. It is not clear what is driving this volatility.
4
You think the economy and the markets will be improved by one or two or three years of trade wars? Tonight I'm gonna party like it's 1929.
35
Not clear at all. Trump tweets, market drops. Trump starts trade war, market drops. Still not clear. Hmm, I wonder what’s causing it then. Hillary!
30
Try the numerator and denominator thing. You’ll find 2000 points isn’t as impressive as it sounds.
5
Trump has in the past claimed that he was smart for not paying much in taxes. Yet he blasts Amazon for not paying enough taxes. Trump frequently talks about making great deals that benefit him or America: his "side". And yet he blasts Amazon for using its vast buying power to leverage a good deal with the US Post Office. I guess making good deals and minimizing tax payments is only good when it benefits him or his friends.
51
If Bezos was an outspoken Trump supporter, and if The Washington Post leaned conservative, do you think Trump would have a single bad thing to say about Amazon? You don’t really need to answer that.
56
President Trump ought to stop getting his advice from FOX News. FOX News is his surrogate president and he an,t see it, or does he? Is anyone but me alarmed?
20
So much for Trump's bragging about the rise of the stock market:
"If the Dems (Crooked Hillary) got elected, your stocks would be down 50% from values on Election Day. Now they have a great future - and just beginning!"
Will soon be heading to Davos, Switzerland, to tell the world how great America is and is doing. Our economy is now booming and with all I am doing, will only get better...Our country is finally WINNING again!
The Fake News Media barely mentions the fact that the Stock Market just hit another New Record and that business in the U.S. is booming...but the people know! Can you imagine if “O” was president and had these numbers - would be biggest story on earth! Dow now over 25,000.
"Stock market hit yet another all-time record high yesterday. There is great confidence in the moves that my Administration is making."
"President Trump is not getting the credit he deserves for the economy," including the "most explosive Stock Market rally that we've seen in modern times." Fox Business Network host Stuart Varney
Can now we say Trump broke it, now he owns it?
Maybe the Republicans will be rethinking the impeachment thing now. Too late, the stock market fiasco and Trump-wrecked economy with all his tough tariff talk is on the Republicans' watch
22
The World Economic Forum convenes in Davos, Switzerland, in mid-February each year.
while I agree with about everybody, trump is like W and has a reverse midas touch ie, everything they touch turns to something smelly and gross you find in a cow pasture, just think where we'd be if obama hadnt listened to bernancke and his wal st bunch and
1. bailed out main street instead of wall st giving loans to keep small business afloat instead of laying people off b/c noone had money to buy their stuff
2. forced smaller community banks who got interest free loans from the fed to instead of sit on it until the market came back, were forced to be like real bankers who are members of the communities they rip off, I mean serve, and loan out 75% of loan amount fed within 90d or pay actual interest
3. expanded, not shrunk, unemployment benefits b/c everyone knows 100% of that $ get spent. its called a multiplier.
4. spent like fdr on infrastructure like roads and bridges to a) put people to work and b) let them learn skill sets they could later
5. passed laws that heavily penalized companies who cowardly sent even more jobs overseas when the W depression hit.
we'd have recovered twice as quick, reordered the overpaid, self-important, wall st pecking order, eliminated useless financial industry jobs" for people who basically play "pass the trash", trading amongst themselves taking a cutoff the top first.
you can argue that, but I'll tell you what we wouldnt have gotten; either trump OR clinton.
and if that isnt a 1000% percent win-win for the planet, I'll eat my hat.
4
Who would have thunk it? Volatility explodes. Markets crash. Trade wars begin. IRAs collapse. When an ignorant, erratic, dishonest, and corrupt president calls for tariffs. Cancels trade pacts. Without expert guidance. Based on falsehoods and conspiracy theories and knuckleheaded white nationalist notions.
33
traders are self absorbed and shallow. big surprise.
2
Now that Trump is being Trump, the chickens are coming home to roost (ie. trade war, war cabinet, dangerous deregulations). You ain't seen nothing yet. Thank you very much, Trump voters.
28
So tariffs against China are because China steals American companies’ intellectual property?
Not to justify such theft, but what about the poor judgement of those companies which, knowing the risk, nevertheless chose to form joint ventures with Chinese companies and take that risk? Sounds like another bailout for risk taking.
Or maybe the American companies decided that the potential profits from involvement in China was worth the risk? So then it becomes a bailout for greed.
Either way, right up Trump’s alley. Big companies count but American farmers and consumers can go scratch.
8
"Either way, right up Trump’s alley. Big companies count but American farmers and consumers can go scratch."
With globalism now a page in the Democratic Party's playbook, shopping at Walmart is now considered politically progressive. Who'd have thought!
Have you ever seen the video where you don't notice anything unusual. Then, when the video is played back in slow motion, you see the clown that you missed the first time. That's called "misdirection". Let see if Trump can try again to come up with something to distract us so we won't notice the falling stock market (along with so many other things).
13
This man is quickly losing it. Today at the Easter Egg hunt, he was talking politics with the little kids standing there.
He apparently doesn't know that where he is living is called the White House. He made some really weird remarks that it didn't have a name but was in tip top shape. "We call it tippy top shape."
21
Wow
Well written
Seen as an opera It would stand
10
Trump has been much worse for the markets than you suggest. In the markets, the first year of any presidency is largely a carryover from the previous administration. No one blames Obama for the continued Bush II financial debacle in 2009. But after that year, Obama started to carry the U.S. and its financial markets out of the Great Recession FOUR YEARS before Europe and the rest of the world finally caught the Democratic administration's coattails.
Similarly, Trump's first year was simply a continuation of the Obama growth trend, as any chart of the markets and the economy demonstrates. It's starting in the SECOND year that the new administration's policies take over. And now, in Trump's Economic Year One, the financial markets have dropped twelve percent; the market manipulators are the only ones propping it up; Trump has embarked on a debilitating trade war; the entire government is rapidly being reduced to cinders; the administration is the most scandalous and corrupt in history; our democracy and our republic are being torn asunder; our world standing, by every measure (most certainly including economic) has fallen off the cliff, and the U.S. is the laughingstock of the world.
It's staring us in the face, folks: We are on the verge of the greatest financial disaster in our history. The only person who can possibly save us now is Robert Mueller.
44
Me. Manuel, thank you for your intelligent and articulate comment. You said a lot of things I wanted to say but fell short in my attempts. I hope some of those who voted for Trump as a strictly “anti-Hillary” statement and are now starting to be worried read your piece.
He's already shown himself to be an incompetent businessman... Why would ANYONE think he understands the complex US economy?
31
Trump’s irrational behavior, selfishness, and lack of any moral compass has remained consistent over several decades. Why is anyone surprised? The most pressing question is why so many cast votes in his favor, and continue to provide him favorable ratings? Ignorance, ominously, is the new normal.
18
Thank you for the honesty to point out a few paragraphs in that: The stock market is still up more than 20 percent since Nov. 8, 2016, the day Mr. Trump won the White House.
What the SHORT?
Look at all around DT for the stock manipulations.
6
This is one of those occasions when I would ask the people posting who they voted for. If they voted for Donald Trump, what did they think was going to happen?. Did they think he was a stable, intelligent, experienced leader who would carefully shepherd the country through turbulent times? Did they think he cared about the institutions that have guided this country since it was founded? Did they think that he had the moral fiber to speak to all the issues that demand his attention? Did they think he really understood the stock market and national and international economies? They knew he tweeted all his responses, did they care that he didn't respond intelligently when asked a question? They saw him appeal to worst instincts of nativism, sexism and racism. If they didn't understand who he was after the campaign then they weren't paying attention. If they did understand all that and voted for him anyway then their chickens have come home to roost. And in the midst of all this chaos where is the leadership of the Republican Party who have kowtowed to his whims and mood swings? We are in deep yogurt.
14
Well now, who's he gonna blame this one on... Obama, China, the Democrats?
6
Trump tanked your IRA, destroyed your small business and farm. Trump in 2020?
14
Amazon refuses to sell Ivanka's apparel? Well it is junk. So Trump is mad at Amazon.
15
Not true. I have been boycotting all trump retailers and they’re still one of them.
1
I have been counseled that the fundamentals of our economy are sound, and that is what really matters. I am more concerned about the fundamentals of our society. Facts don't matter. Civil behavior doesn't matter. Excellence doesn't matter. We talk about narratives, but we don't talk about truth. Donald J. Trump's outbursts about Amazon may hurt an innovative company, but his approach to his job is destroying a nation.
26
Don't you get it? Trump is the ultimate inside trader for his cronies. He made his family (and his friends) a lot of money during the run-up, and now his friends are probably holding short positions as he pushes the market down. Maybe if we all bought Amazon, we could put his cronies out of business, but, of course, the losses will be a tax deduction (private gain but public shared loss). His statements are a classic manipulation of the markets.
16
How many times do the Republicans have to tank the economy before corporate America figures out that their economic policies are the problem. They are so busy worrying about next quarters profits that they ignore long term problems such as huge government debt that creates structural economic problems that inhibit long term, sustainable growth. If you want to formulate good economic policy you don't consult with corporations who know nothing about macroeconomic theory and in fact left to their own devices never fail to destroy their own markets. They cannot help, it is in their nature, greed, and it is not good economic policy.
26
The Trump Bump was due to what he inherited from Obama. The Trump Slump is all on 45. Wall Street is getting fed up with the genius business man and all his winning. Soon his Midwest supporters will be due to the impact of the trade wars on their finances. Amazon is in everyone's 401k so he's messing with everyone's profits. I personally think he's jealous of Jeff Bezos income and net worth, smarts, along with the fact he was born in New Mexico.
18
He hates Amazon because of Wapo. He is making America worst again!
12
Can the S.E.C. take any action against a sitting President for the reckless or intentional, fraudulent manipulation/undermining of corporations and the resultant adverse affects on the financial markets? Is there any legal immunity from such action?
26
Live by the Dow, die by the Dow.....
10
The United States thrives because of its democratic freedom.
==============================================
A "United States of Trump" shrinks because of its lack of freedom.
We fought many wars to defend our freedom and our prosperity.
Now, we must find a way to ride ourselves of this dictatorship by Trump.
This is insanity!
============
It's the economy, stupid!
10
Is Trump the proverbially Bull in the China shop?
4
[[In the first year of Donald J. Trump’s presidency, ebullient investors propelled stock markets to one record high after another.]]
Based largely on the expectation that financial regulations and consumer, workplace and environmental protections would be rolled back, yes?
3
We build more weapons systems to protect America than any other nation on earth, we fear no one. And now one individual with a phone and mental disorder has brought America to possibly financial destruction.
If the rest of our government does not act soon to stop this in any way possible we will be the ones in the dustbin of history.
28
I am not sure that I can take much more of Trump's so-called "winning." The mid-terms can't arrive soon enough for me. We have a Democracy to save.
20
If the market dips, it's time to invest.
4
And so Trump says to his pals.
4
Forget the "Trump bump." The stock market has been rising since 2010. Trump's first major economic policy enactment--tax cuts for the wealthy--coincided with the market's current three month period of decline. I don't know enough about economics to say it is cause and effect, but the coincidence is notable.
9
It's hard to believe that Trump actually graduated from Wharton. It doesn't seem that he learned any of the basic principles of international economics or attended any classes on management.
Obama handed him a gift and he is doing his best to tank the economy. The real downside is military adventurism to distract us from the mess he is creating in many sectors of the economy.
28
The Wharton of those days was not the Wharton of today. His Dad was rich, paying full tuition. It was probably gentleman’s cs all the way.
8
Likewise, Clinton handed Bush and his pre-Tea Party GOP an economic gift and they promptly squandered it with tax cuts for the rich. What else is new? Now with the Tea Party back end of the GOP wagging the dog we can expect even worse economic failure.
2
Trump was in a real-estate program -- Wharton was one of the very few B-schools (maybe the only one?) that had a real-estate track.
He obviously didn't learn anything about anything else ... how much he actually learned about real-estate seems debatable (pending disclosure of how his businesses have actually performed) ... given the massive bankruptcies he made.
4
It feels good to "explain" the markets and, especially, to link them to individuals or policies, but I think they're more complicated than that. Clearly, we have been in uncharted waters for decades in terms of debt and promises. Probably, too, our sort of totally untethered fiat currency is unusual in the annals of history. We could go up steadily or dramatically for decades or the markets could shut down tomorrow and never re-open. These are crazy times... but they have been crazy for decades across many economic parameters, belied by pretty stable growth but some festering problems/symptoms... most especially, polarized income inequality. God help us survive and possible, please!, actually grow our way out of these debts and promises??
3
Since Trump's election,
the trade deficit is way up: https://ycharts.com/indicators/us_trade_deficit_monthly
the federal deficit is way up: https://www.usgovernmentspending.com/federal_deficit_chart.html
And things are getting worse because of:
1) The huge budget busting 1.3 trillion dollar Omnibus bill he just signed which was negotiated by him and passed by a Republican controlled Congress.
2) His huge budget busting tax cut is expected to add another 1.4 trillion dollars to the deficit. https://www.wsj.com/livecoverage/tax-bill-2017/card/1512190969
https://www.cbo.gov/system/files/115th-congress-2017-2018/costestimate/5...
3) His tariffs on Chinese goods will make those goods more expensive for Americans which increases inflation, which as a result lowers discretionary income, which slows down economic activity, which lowers government revenue, which increases the deficit.
4) Going after companies like Amazon only because of his jealousy of Jeff Bezos who unlike him is self-made and a real billionaire will also weaken the economy...
36
Using the bully pulpit of the Presidency Trump is now attacking his political foes and critics where it hurts most - in their bank balance. But you have to wonder just how smart is this guy when he's hurting not only investors but also his billionaire BFF's through market manipulation disguised as concern for the US Postal Service - which, were it not for parcel deliveries, would be financially moribund (if it's not already). We all know he despises the Washington Post's negative coverage of his dysfunctional administration - and so his attack on Amazon has darker motives. Treachery and market manipulation has a new champion - The President of The United States of America.
36
This is all so unnecessary. Having no president for four years would have been better for the economy than having this president
.
86
Trump's attacks on Amazon are fueled by two motives.
1) Trump perceives Jeff Bezos as a political enemy who uses the Washington Post against him.
2) Amazon's online retail sales are driving down real estate prices for retail spaces. This hurts Trump's real estate holdings -- which he has refused to divest.
Trump's self-serving attacks on a publicly-held company that employs over 500,000 and has many millions of investors are unprecedented by a U.S. president. He is putting the jobs and investments of millions of Americans at risk for his own selfish motives.
It's about time someone calls Trump's actions against Amazon what they really are: another impeachable abuse of his powers as president.
101
I politely disagree with number 2. I live in Seattle where Amazon is based and real estate prices for retail have skyrocketed. LOTS of little businesses are closing because they cannot afford triple rent increases. But I have not heard of anyone closing their local business due to Amazons online sales. I have used Amazon a few times but one item is not even sold on the West Coast so Amazon is my only option.
2
@Civic Samurai
This is the first of the "Readers Picks" that gets it right.
Bezos owns WaPo. Amazon has a heavy negative impact on brick-and-mortar.
But one other item to consider: the money that was made by shorting Amazon prior to the idiotic and illegal tweet storm, something that other commenters have noted.
2
Under the 1933 Securities Act, it is a crime for a government official to spread false or manipulative information regarding any business that results in a change in stock price detrimental to investors. Here we are. To his many accolades, now add Fraudster-in-Chief.
93
When the markets were going up in 2017, Times writers insisted that Trump's policies had nothing to do with it. Now that they are going down, this writer pins all the blame on Trump. Hmmm.
1
You are free to prove them wrong.
4
That is because Trump didn't enact any economic policies until the tax giveaway and the trade war, both were enacted this year.
9
Basic economic logic my friend. 2017 was based on the expanding economy of Obama's level headed leadership. the 2018 dust bowl days, are all due to Trump policies.
I know it is hard to swallow a bitter truth. But ignoring it does you harm.
16
The tweeter in chief has done it again. Darth Vader has returned. Thankfully, 5% trailing stop orders have saved my Investment Club's profits. Too bad the 100 put options on Tsla bought two weeks ago for .10 a total of 1k, now would be worth 700,000$. Timing is everything.
Never try to catch a falling knife and fire any adviser who keeps repeating, "Stay the course." 5% of a million dollar portfolio is only 50k, and you have 950k in cash right now and you sleep well.
Uncertainty rules, from the top down and you all know what else runs down hill.
The horror. The horror.
4
The last time a so called business man was president it led to the great depression.
27
"The market’s decline over the past two months has been broad based."
broad-based ?
3
Trump claimed all the credit when the market kept going up in 2017.
Trump now deserves all the blame with the market down 10% from its peak in January just barely 2 months ago. Today's 1.9% drop in the DJIA is entirely due to Mr. Trump's start of a trade war with China. It is entirely Mr. Trump's fault. There is no one else to blame.
Mr. Trump used bullying tactics to threaten China with tariffs on $60 Billion of their goods shipped to the US in addition to his recent tariffs on Chinese aluminum and steel. Trump has even tweeted "trade wars are good, and easy to win". Well China threatened 2 weeks ago and unlike Mr. Trump, today, they took action and actually imposed tariffs up to 25% especially on US Pork. This tariff was a laser beam which targeted Trump supporters in the Midwest who got him elected. If Mr. Trump does not follow through with his additional tariffs against Chinese goods, he will look like a spineless wimp and a loser.
To Mr. Trump: You now have your trade war which you tweeted was so "Easy to Win". You, Mr. Trump, should learn from history and look up the effects of the US Smoot-Hawley Tariff Act which prolonged the Great Depression. So Mr. Trump, what is your next move and how are you going to win now? Simplistic raising of tariffs will not yield the results you want. Just remember, larger US companies such as Boeing, Caterpillar and Apple with their high paying US jobs and extensive dealings with China are now in jeopardy.
25
It is incongrous to see the president using lies as he tries to drive down the stock price of a leading US based and US owned company like Amazon. Can you imagine Calvin Cooledge trying to do damage to Ford Motor Company stock? Or Reagan doing something similar to Exxon?
I'm begging the congressional leadership and white house staff to stop the president from issuing these uncorroborated tweets. You must save the country from this behavior. Please, please, stick to the truth.
23
The stock market is beginning to understand the full dimension of Trump’s hypocrisy.During the campaign he bragged about how smart he was to take advantage of tax loopholes.Losses suffered in Atlantic City saved him hundreds of millions of dollars. And now he accuses Amazon of minimizing its tax payable.Give me a break.And worse.He is miffed by W.Post coverage. The Emperor is angry.
22
Milton...have noticed some of your comments recently. have you just started or haven't i noticed before. bruce==as in Harold's son--in Greensville/dundas
Good thing no one's retirement funds are invested in the stock market.
15
What "Trump Bump"?
The economy was running on inertia in 2017. Trump's economic agenda didn't even begin until 2018 with the tax giveaway and trade war.
And it's been all downhill since then.
28
Even 'though my IRA has taken a hit, I believe in the long run (not ala John Maynard Keynes) we'll be fine. However it looks like the red states are getting just what they asked for. No surprise there.
20
For Trump’s first year he claimed undue credit for the rise of the stock market, because it rose due the stabe economy that he inherited and to the hopeful expectations of what this businessman president might do. Now Trump has indeed effected the market with tweets on trade, size of his nuclear button, and tantrums about Amazon. Did he ever stop to consider that almost everyone has Amazon as part of their 401k or IRA! Almost all Americans are loosing money based on his irresponsible actions! Does he have no handlers that care?
363
Trump never considers. (BTW, it's "affected", as you probably know. There's not much Trump can "effect" except dismantlement.)
1
To answer your last sentence - NO....
5
File a complaint with the securities and exchange commission. Tweeting lies about Amazon to manipulate the market is illegal. Make your voice heard where it counts!
6
Trump run the country like he run his companies, straight to Chapter 7 that is. How come he hasn't brag about the stock market lately. He can't stop bragging about the rise of the stock market after his fake election victory. Taking credit for the economic success that Obama(the non American born president that he kept insisting) has done.
17
I am all cash as of the beginning of January. I was hearing a lot of the bubble talk - "it's a whole new economy", "the old rules don't apply", "all we need is confidence" . . .
I couldn't get out fast enough once I heard all three in one day.
I'll be back once it's down 25%.
21
It remains to be seen if the Trump administration can totally wreck the recovery begun when Obama was elected, but, if things get really bad, the Republicans can always pass a big tax cut. Wait - They've already wasted that tool. Oh well.
39
The market was going up before Trump took office, and like all things that could be attributed to Obama, Trump is doing everything in his power to destroy it, so why should the stock market be any different.
59
So - you're saying that if the markets go up that it has absolutely nothing to do with Trump but if the markets go down - it is a Trump-induced correction?
1
Yes, that is correct. Trump had nothing to do with he stock market going up. But, yes, Trump’s policies and proclamations have made it go down.
But the harm, I fear, will not only be economic and is far from finished.
38
in this case yes. don't be obtuse. he has started a trade war and this its one of the results. the market is reacting.
24
I think Trump behaves so different than all other leaders that we might be justified in laying blame at his feet for this turmoil.
3
I’m sure once the market understands how good a trade war is, and how easy it is to win, it will rebound.
43
Why do I have to say this?
The economy needs stability to function.
If this is a surprise, it is time for some soul searching.
27
Would it be too generous to Trump to suggest that he (or his family) is shorting the market?
31
Are they that smart?
2
It's well known that economies lag leaders. The so-called "Trump Bump" in the markets for the first year of the current administration was actually the result of the last years of the Obama economy. Now those golden years are fading and the Trump economy is ascendant. Watch out, the "Trump Dump" is already underway and it's gonna be yuge.
36
If you knew anything about Economics, you would know that stock market prices are called "leading indicators," i.e., that their movement forecasts future economic activity, not past events.
2
I fail to see how this counters the original post. The economy was moving up based on Obama policy. Now that Trump's policy is kicking in, the "leading indicators" are diving for cover.
18
Yeah, that's right. NOT! Leading indicators? Maybe in good times, but certainly not Trump times. And his leading indicator is pointing straight down currently.
2
The best move I've ever made in the market was to dump everything in December 2017. Perhaps a bit premature, but how much money does one need? The market was on a sugar high and I cashed in. If I had waited until now to sell, 30% of my portfolio would have vanished.
Everyone with any sense knew this was coming. But no one would admit it. Flashback to September 2008, when Lehman Bros. imploded. How were you treated by your broker back then?
11
How would you have lost 30 percent of your portfolio if you waited until now to sell, since the market is down from its late January high by only 10 percent?
5
Why do you have this strange idea that all stocks went down 10% evenly just because the Dow went down that much? Unless he was in an index fund he could have made money, lost 10%, 50% or 90% depending on what stocks he invested in.
8
Please spare us the ritual comments about how $497 billion in wealth was wiped out today or in the last month or whenever. The referred-to wealth never existed, so it can't be wiped out. We have a convenient but silly convention: To price every share of stock at the current price. This makes no sense, unless you believe that on a particular day every share could be sold at that price. Which it can't. Yet we continue to hear about "wealth creation" and "wealth destruction" as the market goes up and down. It only adds to the anxiety.
17
I'm certain that shortly Trump will tweet that the market decline, far from being the result of his own trade policies and general mayhem, should be traced to Barack Obama's policies and/or Chuck Schumer's recalcitrance on DACA.
The real truth is that the relationship between the White House and the markets is hard, perhaps impossible, to gauge. I'm willing to say that Trump's anti-regulatory stance combined with the GOP's corporate-centric tax reforms did goose the market. I'm also willing to say that Trump's loose cannon trade policies are hurting the market. But anything else is just guessing as to their effects. That Trump bragged endlessly about the entire market move following his election and is silent now says more about Trump than it does about the relationship between markets and the presidency.
18
Why is anyone surprised?? The only surprise as outsider looking in is where are the elected Republicans? Don't they have a say when the President runs the country like a business playing his top executives off against each other which seems to add to the instability. Seemingly making decisions on a whim without any idea of the consequences. Did he really think China would just sit back and accept tariffs? What are the elected Republicans doing??
20
Counting their money. That's quite obviously all they know how to do.
6
In a word, nothing. That's what elected Republicans are doing. Nothing.
4
Nothing. Nothing at all.
2
It is frustrating that newspapers and talking heads on TV really try very hard to rationalized and make sense of what Trump is doing or not doing. Analyzing a simpleton is simple: All Trump cares about is building a Trump Tower in Moscow with big bold gold letters. To Trump, nothing else in the world matters. Why would he congratulate Putin and invite him to the White House? The media is falling all over itself trying to come up with some logical reasoning when the answer is so simple. Trump has never had a complex thought in his whole life. Syria? Jerusalem? The Wall? EPA? Daca? All of these and more are way beyond his ability to comprehend and reason, and he doesn't care one iota. He probably made a vow to Donald Jr., Eric, and Ivanka that before he goes, there will be a Trump Tower, with his name on it in Moscow. That will be his crowning achievement. He hates being President , is holding out for the Trump Tower in Moscow, and would kiss Putin's behind in Macy's window if he thought that he would get Putin's permission to build the tower. Everything else is eyewash.
34
Gosh, I wonder what Mr. Trump and his family buy and sell in the days before and after his tweets?
47
Market manipulation is a federal crime
39
Right.
2
Wait wait wait......
.....the worst quarter since the DEPRESSION??
Trump Airlines
Trump Casinos
Trump University
America.
21
If Larry Kudlow is the new voice of reason I am going into cash
26
A fair amount of the recent stock market decline can be attributed to Trump's efforts to pick winners and losers on Twitter (which pretty much goes against all pre-2015 Republican economic policy). The latest example, where Trump hate-tweets about Amazon because the Washington Post factually disparages him, is particularly farcical.
15
When companies sleep with and/or enable pigs, they get dirty.
Write this down!
11
4%. The sky is falling!
4
Welcome to America's Faustian bargain.
Hillary was boring (for many voters who wanted someone to "shake up the system"), so enjoy the entertain of non-stop crises of Trump's own invention.
More crisis, more news, more distractions means people don't have the chance to focus on the various investigations of Trump and the real damage and hollowing out of democratic institutions that is happening right under our nose. Rollback auto emission standards, dismantle EPA, rollback clean water standards, coal is king....the party has just started. By the time Trump is done or done for politically and consigned to the garbage bin of history where he rightly belongs, America will have to pay for a long hangover and recovery to sanity.
60
Let's not forget the very real and agonizing potential to pack the Supreme Court with another hard right-wing extremist or two and leave it corrupted for decades.
4
The GOP leadership, Ryan and McConnell, are just as complicit and deserve to be called out from hiding under their beds!
27
We are not in Kansas anymore Toto. Wait, we have to rethink that.
Yes, Dorothy, wait until we see how much the deficit balloons due to the "pass through" provisions in the new tax law not to mention a significant drop in corporate tax income after the "repatriation" phase is over. You can't run a modern economy at 19% of GDP. Unless, of course you want to almost completely get rid of the social programs like Medicare, Medicare and Social Security.
Then we're gonna party like its 1899!
24
"Monday’s dose of unnerving news was a presidential tweet aimed at Amazon.."
I thought most Americans - especially readers of the NYTimes - were disgusted with Amazon monolithic power that has resulted in the closing of thousands of small business and putting wholesale vendors in financial jeopardy.
Apparently, all their complaints were a bunch of hot air now that President Trump is calling out Amazon.
1
Yes, Amazon gets some things wrong. Trump gets many more things far more wrong. I choose the least of the evils, thank you.
5
If you were really concerned about small businesses you would have voted Democratic.
3
Just wait for the baby boomers with no retirement savings to burn through their Medicare limits - it’s going to get interesting!!!
8
I keep telling myself there will certainly be a moment when the GOP can no longer support such an unintelligent and insane empty suit and his despicable tweets. I keep hoping the Republican despots will come to their senses and care about the people and put our country and the Constitution first.
So far, they apparently are willing to continue to sell their souls to the devil for the very temporary and illusive feeling of power. Enjoy the illusion, Republicans. We are coming for you in November.
The people, and Mr. Mueller, will end up doing what you disgusting, weak, elected officials don't have the courage to do and then we will savor the thrill of punishing you. We are counting the days.
42
He's going to blame the correction on Obama and Hillary and everyone else.
6
Phaethon driving the sun chariot...
3
Great analogy.
1
POTUS knows how to make beautiful fires, with his bare fingers, using only tweets. This fire is all his; no one to share it with. Of course he'll tweet that it's Obama's fault, or Bush, or George Washington because he claimed America from the Brits. So Sad!
6
Didn't Iowa, the epicenter of American pork production, go whole hog for Trump in the election?
31
Keep up the trade war rhetoric and we'll all be shopping at Dollar General. Sorry, I meant Two Dollar General.
13
TWO Dollar General is a good one.
What are the chances that Don Jr., Eric or Jared are shorting Amazon?
25
Markets don't lie. Just the president.
11
The nation’s saving grace in all this is that at some point Congress’ owners on Wall Street will say “enough,” and order their lackeys in D.C. to finally do their jobs and remove this lazy, irresponsible fool from office.
8
Am I mistaken to assume that Trump and his family have investments in the stock market? And that every time his personal biases make the stock market take a dive, he and they have losses too? If that is true, then in reality, he is fining himself for his own bad behaviour. At least that's how I like to think of it.
3
He doesn't care. Ego first! Losing money? Lie about it. (He already has....)
1
He's shorting the companies he later tanks. He needs to go to prison like Martha Stewart.
3
Take this all in stride. The market is about 5% above its long term trend -- please refer to http://chcollins.com/100Billion/2013/02/the-trend/
Trump may have bumped it up, and he may have bumped it down, but the long-term trend remains the same, about 7% a year. Everything else is noise.
2
If Trump tanks the economy the Democrats will be able to argue credibility that they are better stewards of our country's economy for at least a generation. The GOP should be afraid very afraid.
11
Gee, what a surprise that the equity markets are in turmoil -- and that Trump is claiming zero responsibility for the chaos. Market volatility/collapse is what happens when you elect a lunatic to the WH and staff it (and every administrative agency) with incompetent, unqualified and corrupt people.
Why has it taken everyone so long to figure out that a steady hand and no drama -- which is what Obama gave our country for his entire term in office -- is what the markets need prosper?
Although my assets have dwindled substantially (on paper) since Trump went over the cliff with his preposterous tariffs and Twitter wars with Amazon, et al., I'm not going to foolishly sell my stocks. Instead, I'm going to sit tight --and cross my fingers that the markets do poorly, right up until the mid-term elections in November 2018.
18
Only the Trumpsters living in their fantasyland thought that Trump's Make America Great Again would push an already stretched market to higher highs.
But markets do not like chaos at the helm and no company can survive a CEO who continually broadcasts that everything is a disaster. Trump's six bankruptcies, alt-truth reality, huge new deficit, and China's latest gains are not what investors want.
19
Trump took credit for the economic strength built under Obama, and then the Toddler In Chief's actions to start a trade war (combined with the shady and possibly illegal tactics of his team using Cambridge Analytics) have shown how truly destructive he is to markets and the economy.
Not a surprise if you looked at how he ran his companies, really.
29
What? Trump isn't crowing about the markets anymore? Well, what President WOULD crow when the market is off 3% in 3 months?
The mistake he made was crowing about the markets, and taking credit, when they were up. Oh, the other mistake is destroying free trade. We CAN blame him for that.
11
Yes, and we're not reading about how some people are making more money than ever, especially those who were emphatic they made more in the first year of Trump's presidency v. eight years of Obama when the percentage of gain was much higher. If they boast he caused the market to rise, then they must give him credit when it goes down.
2
As an Amazon shareholder in my IRA, I am eager to sign up for a class action against the so-called president of the Banana Republic of America. Offense? Tortious interference with commerce and shareholder value in pursuit of the unconstitutional suppression of free speech. Lawyers, start your engines!
56
I had a decent retirement with the State of Idaho Public Employees. When I left in the early '90's, I was forced out of the system and had to find something private. Now, they took my measly $9,000, promptly turned it into $7,000, and then have sent me statements for two decades showing bigger and bigger numbers. But I am quite confident that I will never see a penny. And to think I could have used that $9,000 to put a down payment on a house, which would now be worth $300,000. But Wall Street must be fed. They're the Job Creators, right?
138
Please, don't feel like the Lone Ranger. So many of us were sold a bill of goods, the smoke and mirrors of the American financial system.
And who’s to blame here? Btw, if you’ve had dough in the market since the early 90’s you’ve either got a whole lot more dough, or you are dough-repellant.
1
.......and.....your state voted for him.
It's a little early to call this anything but routine volatility in a pricey market. That said, I'd love to see this kind of market move closer to the election.
1
Stable genius? The President usually says the opposite of what he actually is. This appears to be one of those times. It is a true shame that what you normally expect from a President, restraint, tact, care for ordinary Americans all seem to be missing from this particular President. He was quick to talk up the stock market's rise following his pattern so far, he will blame everyone else for its fall but himself or his actions. There is no one he need turn to for wise counsel since he is a stable genius.
3
The flagrant economic malpractice perpetrated by the GOP on the US economy will come home to roost and decimate savings of the Trumpsters. From the GOP's deficit busting tax cut to rolling back regulations that enhance the quality of life for Americans, the country will come to rue the day the GOP stole the presidency for the second time in 5 elections.
Whether the economy continues to grow with rising inflation/interest rates or the economy goes into recession, the stock market will likely enter a prolonged swoon. On the plus side, folks that are supporting the GOP based on an economy built on hot air, will wake up and come to their senses, although it may be too late for their retirement plans.
14
I do not like to be of a suspicious mind, but if Trump has noticed his effect on markets he would be able to short sell through well hidden shell companies to make a huge profit. Then buy on the dip when he reverses himself. It would be worth it for regulators to scour for entities that gain from the effect of these tweets on the market. It is hard to imagine he does not breath a word in advance to others, particularly Jared or Ivanka.
35
Will America’s corporate titans call McConnell and Ryan to demand the end of the Trump presidency now that he is taking potshots at individual Fortune 500 companies, trying to destroy them and our economy just like he has destroyed everything else in his path throughout his life?
18
They are responsible for allowing this to continue. CEO's all are educated about the behaviors of narcissists. Politician, unfortunately, don't pay attention to this. They bank on the hope that Trump will, in the end, do the wishes of the party. The more he is criticized, the more destructive to our government he will become. This is his way of getting even with us for not loving him. This reality will only become more dangerous as we continue to criticize him.
Putin is "Big Daddy Vlad," the mean father who will help him destroy our country. For the GOP to stand by and look away as Putin comes here, to the White House, to help Trump get even with us is really frightening. Whatever they drum up, it will be catastrophic for the American People. The Russians are BRUTAL.
Why isn't trump taking credit? He did all the time the market was going up.
20
These continual ups and downs, bumps and slumps hit one not only economically but affect our confidence. Many people invest not to get rich or pump and dump but for the boring reason to hopefully have enough money to live on during retirement, or pay for health care. These continual swings affects not the rich (who with their Street-smart brokers might actually might be getting richer) but the middle class saver/investor who only wants some financial security served up with some peace of mind.
11
to the extent trump can blow up the world capitalist order good for him!
time for a change is long overdue.
1
Replaced with what? Utopia? Oligarchy? Serfdom? Anarchy? Military dictatorship? Monarchy?
As Sinclair Lewis said, "When fascism comes to America, it will be wrapped in the flag." My brilliant father told me before he died in 1992 that I would live under fascism in my lifetime. I do believe - once again - he was right.
10
Trump is a businessman. He knows how to make America great again. Trump will simply hire the best people. Trump's billionaire history is all we need to know.
Or something.
7
It has become more and more obvious that the way to benefit financially from the Trump presidency (if you are not in the big leagues so can get into stock shorting) is to just buy stock in companies that make drones, military rifles, bullets, bombs, etc. Tax payer money will be buying more and more of those as we ramp up the Middle East wars even farther. Oh, and you might want to look into designs for backyard bomb shelters and stock up on dried foods!
14
How do you prepare if you are living in extreme poverty, which is defined by the World Bank as less than $1.25 a day in 2005? The UN defines 'extreme poverty" as 'a condition characterized by severe deprivation of basic human needs, including food, safe drinking water, sanitation facilities, health, shelter, education and information. It depends not only on income but also on access to services."
Over 1.6 billion of the world's population lives in this situation. In December, 2017, Philip Alston, the UN special rapporteur on extreme poverty and human rights, spent 10 days touring America. You can easily access and read his report. It is beyond a national outrage.
Thanks for that reminder- I'll add a link: http://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=22533
The perfect storm - the Republican cult majority re-installs Unicorn Economics that nuked the global markets 8 years ago (which, by the way, contributed a trillion to the "Obama debt") while president Joker "governs" by numbskulled chaos. I pity the next Democratic president who inherits the smoking crater.
26
Check your history, folks: the myth is that the GOP is good for the economy. The truth is the Democrats have always come in and cleaned up their messes (see Depression of Twentieth Century). Get this destructive clown out of there.
78
"GOP is good for economy" = "fake news"
1
Oddly, I'm so grateful that the markets are beginning to respond to the craziness and say, 'enough'. I'd gladly go back to the value of my portfolio on November 8, 2016, if it meant I could get rid of this cancer infecting our country.
36
It is almost as if DT wants to ruin the economy. Everything he does is contrary to facts, data and advisors.
38
You left out reality.
1
What Advisors?
2
It was only a matter of time before the market woke up to Trump's false promises and the Republican economic disaster. The fact is that the markets beg for stability and without stability we are in for a very rough ride over the next 6-18 months. At that point, Trumps and the Republicans deficit breaking budget will become an economic nightmare and reality and who know what will happen.
19
Leona Helmsley is in a level playing field and she, like The Don, didn’t pay taxes. “Only little people pay taxes”. By the way, has the IRS completed the audit of The Don’s most recent returns?
34
Trump could very well crash the export sector which would in turn crash the stock market, leading ultimately to a good old fashioned recession just in time for the 2020 election. That an impeachment hearings and a possible trial would plausibly and definitively end the Trump presidency, most likely from a solid majority of voters turning Trump's unlikely 2016 electoral college victory into a 2020 rout. He won't keep the farm vote if China shuts down its imports of agricultural products. He won't keep the blue collar vote in the Midwest if durable goods tank in the wake of a declining GDP. We might see the captain standing on the deck of the ship as the waves start crashing into the state rooms.
21
Trump saves Americans from $billions in higher taxes.
The mad-tweeter busts the stock market, corporations plan to lay-off millions
No jobs = no taxes, pretty simple.
9
I'm waiting for the Trump tweet claiming 'credit' for this latest stock market maneuvering, and reminding us again that "trade wars are easy to win". Keep telling us that, Trump. Tell the hog farmers in Iowa. Tell the almond growers in California. Tell us all again about how your tariffs spat with China will not trigger a trade war, or tell us all how much better, even greater, things will be real soon now.Tell all the people watching their 401k's heading the wrong way, while your sycophants in Congress talk about cutting Social Security, Medicare, and Medicaid. Trump, you claimed credit for the stock market's increases - that means you *own* the stock market declines as well. Lesser politicians know better, but you claimed every increase was due to your brilliance, your "business genius". So now you own the slump... the Trump Slump. How low will the market go? Who knows. How low will Trump go? We haven't seen bottom there yet, either.
32
The Bankruptcy President - it was just a matter of time before he infected all of us.
37
That should be his epitaph.
4
Who knows better than Trump about level playing fields and paying taxes?
6
Trump, MAPA....make Americans poor again. On cue every morning to repeat the inane remarks of Fox News.
10
MAPA - Where can I get my hat?
3
Yes, indeed. Here is the updated Kerner Report - 50 years later - released recently.
Read it and weep for what might have been. https://www.npr.org/2018/02/27/589351779/report-updates-landmark-1968-ra...
It took the Bush administration almost eight years of deregulation to fully wreck the economy. Trump is way ahead of schedule. He must be bursting with pride.
Whenever the Republicans are in charge, the economy tanks, and they blame the Democrats for it, who then fix it when they are in power without Republicans helping, and without getting any credit for it. How many times are we going to keep doing this?
73
Every time Trump opens his mouth our 401K's get eaten. His ideas are archaic,tired,unhelpful. And those are the good points! He is out to ruin our economy. our retirement plans and our lives as we knew them. Ignorance,hubris paired with a big mouth, a childish temper and a general lack of positivity is driving our American Way to a ditch, full of swampy bilge. His "followers" can jump with him, we need our backboneless Senate and House to grow a pair of eyes.ears and a cerebrum. They should be voted out and down for their collusion with those poor ideas.
24
Trump is ticking them off.
Giving all our money to the rich.
Killing the environment.
Killing Obamacare.
Singlehandedly crashing the stock market.
Starting Third World Wars.
14
Hey Trump voters: Tired of winning yet?
38
Once again the Republican Party is adversely affecting the economy, cutting taxes, increasing spending (mostly on a military that doesn’t need it), and running up the deficit. But that would just be the “norm” if not for their imbecile president who singlehandedly is wreaking havoc with his infantile trade war, his incessant tweeting, and his plain old mean spirited demeanor. The Republican Party is going to be surprised when anyone with money in the stock market or with a 401k/retirement plan decides to vote against them. Democrats took over an economy that had been in shambles from the Republicans prior 8 years in power and turned it around and now once again they’re screwing it up. At what point is the “party of business” going to put a leash on this buffoon and get their act together.
18
This is going to get worse and worse with this MORON in the WH. Former SOS Tillerson was 200% right when he called him that. This guy has to be the biggest goof off in the country. He thinks he's playing a reality TV game with America with his non-stop nonsense. A 71 year old man acting like he's a 14 year old playing a video game. What a pathetic excuse for a President.
29
What country is Trump working for?
26
He's preparing us for the handoff to Moscow which by the time Trumpty Dumpty is done winning for us we might be grateful. NOT
3
Another Obama accomplishment Trump has overturned.
19
there are at least 2 problems i don't see adequately discussed:
1-everyone thinks they're a broker now, for the past several years. they feel confident in making their own online trades without having any sort of 2nd opinion and certainly not a broad overview. this leads to 'fad' buying/selling/crashing/inflating.
2-large companies become larger at the expense of any healthy competition, jobs, customers. one size does not fit all.
2
Some more important words you didn't discuss.....
"Everyone - Agrees - Trade War - Bad - Simple Economics - Don't Start - China -Imposes - Tariffs - Stocks - Fall - Same - Day"
Who knew winning a trade war could be so complicated?
9
Trump needs to keep his mouth shut--stop the dopey tweets that terrifies investors, We had market stability with Obama. Unfortunately, that is not the case with this POTUS, who promotes instability and fear with his tweets and endless campaign speeches focused on dividing rather than uniting.
8
Here’s hoping the SEC will take a glance at Trump investment equity positions both before and after these tweets.
25
Good. Let the stock market tumble to below 20000 just before the November elections (and I fear we'll be lucky if it doesn't go below 15000 by the way). I'm happy to work a few years longer to see Trump and his treasonous and greedy collaborators flushed out of office on a Blue Tsunami, preferably in handcuffs.
18
Great plan! Some of us are retired.
2
@ BMYUSNSOIL: You can always "unretire":
https://www.nytimes.com/2018/03/30/health/unretirement-work-seniors.html
Cold. Easy to say when you don't know a thing about us. Are you a career counselor? Perhaps you know of some great high paying jobs with stock options. The point is after working and saving for decades we should not need to go back to work because the toddler in the Oval Office likes to throw twitter temper tantrums...nor because some are getting perverse enjoyment out of it.
I just wanted to say thank you for using the word "zesty."
1
Gee, I remember when Republicans waxed practically poetic about the need for “business confidence” to keep the economy strong; and how business confidence was based on stability and predictability (hence one reason for the hostility to any change in regulation or taxes). Now DJT blows from position to position like a weather vane in a tornado, and all the GOP sheeples stand meek and silent before him. Conservatives have no principles. They are corrupt through and through, and they are trying to destroy our country.
18
I think some in the markets are waking up to the fact that Trump is Putin's poison pill. The affects are systemic, and becoming very evident in everything Trump touches or tweets, not just Wall Street and our economy.
11
Perhaps the drop in share prices might now awaken the GOP led congress to Trump's high crimes and misdemeanors and to take appropriate action. The Trump base manipulated by the greedy must now reassess the situation. And the base must finally realize that their retirement plan takes precedent over the NRA and perhaps even their pastor.
9
If there is a Trump Recession and Congress goes blue, DJT will be fired by his foster-party well before 2020.
8
Whew, I'm so tired of winning.
19
At what point in time is the Republican party going to say "Enough is enough" and do something to shut this disaster of a President up? He is doing damage to your country that will take years to recover from. Not just economic damage, but damage to your international reputation. The United States will never be considered a world leader again and the blame can and will be laid at the feet of Donald J Trump and the Republican party.
31
Other countries know what's going on; there will be a lot of apologies made after trump is gone but most out there in the international community have faith.
5
Time for admirable Canada to take that role.
1
I've said it before, and I'll say it as long as I'm on this planet: The Republican Party and primary voters determined that Donald Trump was the most qualified of all its candidates to assume the responsibilities of the Presidency of the United States.
1
My biggest concern is that we normalize the behavior of Trump. I think we may be missing something here; something very dangerous to our nation.
12
You don't have to worry. There will never be anything close to "normal" about Trump.
3
Way too late. We literally have 60 minute segments focusing on the sitting President paying off and threatening a porn star. Where have both of you been?
Stockholders, don't panic and sell your stocks unless you absolutely absolutely need the money. Instead, find ways to spend less, and try to save some money to buy stocks when they get cheaper. Trump & Co. will be gone in a few years or sooner, and the companies you own will still be alive. Your investments will come back.
13
Maybe.
4
I wonder why it became OK for Trump supporters to cross their proverbial moral lines in the sand and support this man with all his lying, cheating, ineptitude and such (but more importantly) why it became OK for them to attack those for not being OK with those things?
Trump is an unprecedented disaster unless your business is in the business of abusing the environment, gaining from lying to allied heads of state and slandering solid companies because the founder of that solid company owns a newspaper that exposes the president for all his meanness and ineptitude.
My condolences for those with their retirements totally wrapped up in the markets and for all those companies that will be directly affected by Trump's unfitness. You don't deserve this. Hope you didn't vote for him.
29
Simple. The Republicans voters picked trump because of the name "Clinton and the sex "Woman." Not necessarily in that order.
10
We all admired the 'Trump bump'. Now face the 'Trump dump'. The man who took credit for the highest ever stock-market would never take responsibility for investors losing billions of dollars.
13
There was no trump bump. That was Obama’s coattails trump road along on and tried to take credit for!
12
Donald Trump: "Don't worry, be happy".
4
It’s unlawful to publicize information with the intent of affecting the behavior of securities markets. Once again, Trump raises himself above the law and Congress turns a blind eye. The danger is that this becomes the new normal. Just imagine how Trump will behave when he or his children come under indictment, probably at the hands of the NY AG. He will act like a wounded animal, striking out in every direction to cause as much damage as possible.
50
No worries. Today he announced to a group of kindergarten kids that the economy was roaring along at historic highs. And that the "building" behind him was in "tippy top shape."
But I don't think the Easter Bunny standing beside him was buying it.
15
At least he was speaking to an audience of his peers.
3
The stock market is easy to win!
5
Trump whether we like it or not is the President of the USA and has to act accordingly. The fact he selectively chooses individual companies and individuals for inaccurate critisism or praise moving share prices is playing favorites and impacting the hard earned assets of individual Americans through their pension funds, IRAs etc
If Trump believes companies like Amazon do not pay their fair share of tax then instead of tweeting, enact legislation that closes real or perceived loopholes they and their compeititors enjoy.
While you are at it Mr Trump publish your own tax returns. to demonstrate your level of patriotism in paying taxes.
As for trade policies this is a disaster, next up will be China switches Soybean supply to Brazil and Airplanes to Europe.
China needs to be reigned in but let's do it with old fashioned diplomacy and clear objectives.
One last thing we will never be compeititive in world markets unless we improve dramatically the education of our children, particularly technical.
China, South Korea, Japan, Germany are light years ahead of us.
Seeing the state of education in a West Virginia, Oklahoma, Kentucky, Arizona,the miserable wages paid to our teachers , the terrible facilities indicate we have not grasped the enormity of this problem.
We may have the most expensive military in the world but we are losing the war of knowledge and expertise.
49
Ah, but DJT says not paying taxes “makes him smart”. So is he upset that Amazon is as smart as he is?
8
I think Trump is buying Amazon stock like crazy now. Who's next? Apple?
1
Wild guess but I don't think President Trump will take and responsibility for stocks falling; someone how Obama ad Crooked Hillary made this happen
25
Well at least for Americans who voted for the Fake Prez & those who didn't, we all will enjoy the lower cost of pork, wine, almonds , etc too! And we can get lower prices at the pump to with the surplus of the water based etnonol too... win win in making America great again..thanks Don xoxo
1
Have any of the journalists at the New York Times followed-up on Carl Icahn's dumping of steel and aluminum stocks right before Trump announced the tariffs? If so, where's the reporting on what clearly seems to be an example of insider trading. If not, why not? That's your job!
96
They are afraid of Icahn, for some reason.
7
Let’s be clear on this. The Dow 17 months ago on Election Day 2016 was at 18,400. It closed today at ~23,400. That means in the 17 months Trump has been president the Dow is UP 5,000 points. There has never been a 5000 point INCREASE in the stock market in any president’s first year in office. I get it that liberals hate Trump, but saying the market has tanked under Trump is....fake news.
3
As long as you also agree that the market under Obama completely turned around from the 2008 recession. It wasn’t like the market started gaining magically as soon as Trump was elected.
31
If Trump continues his trade wars, the market will continue to fall. American industries and farms will be negatively affected by counter restrictions from China and other nations who perceive American tariffs as antagonistic to their respective manufacturing and agricultural interests. Trump may think trade wars are easily won, but the collateral damage can be substantial, affecting the family farm, fabricating and manufacturing companies and our much needed infrastructure repairs.
10
The market's immediate rise under Trump was due to sound policy under Obama and the promise of tax cuts and deregulation. Now we have the fallout -- tax cuts that don't help the middle class; tariffs that will hurt farmers and manufacturers, the so-called Trumpettes; and a president that picks winners and losers willy-nilly -- poison to a market that hates uncertainty.
There's nothing to do but hang on -- small comfort to retirees and those who need market funds immediately.
You are right that the market moves independently of the presidency. But that doesn't mean what a president says can't come back to haunt him and the country.
Trump offers no comfort and no hope -- in short, no leadership. -- thegamesmenplay.com
17
Worries over tech and trade wars?
What about the loud mouth in WH?
Could someone shut him up?
That would be one less worry for the markets!
27
Mr. Trumps has foolishly taken credit for an up market; I doubt he will accept any responsibility for the market heading downwards.
The Dow was about 7900 when Mr. Obama took office and closed over 19,000 when he left office.
Won't we all be surprised if the Dow makes it to 30,000 at the end of Mr. Trumps first term, or yikes his second term.
It may be more likely that we are in a war with somebody or a deep economic recession. It doesn't appear that the great deal maker as any ability to make any deals, except perhaps getting one his lawyers to pay off the adult movie actress.
10
The left is just delighted wth any bad news.
1
Only in the sense that it’s satisfying to be able to predict such things.
We’re not happy about the news itself because we and our children and grandchildren live here, too.
24
I didn't know owning stocks, and worrying about unstable economic markets was a Left/Right issue. I guess some people can only view the world through their jaded partisan spectacles!
15
Reader in Wash, DC,
Being retired I am anything but delighted. Some of us are living off the accumulated savings of decades of hard work and the gains we made during the Obama presidency. Trump&Co are a curse on all our houses.
52
Well done Trump my 401K retirement account has lost all 2017 gains since you idiotically started a trade war.
67
Trump is destroying our county's economy just like he bankrupted every company he has ever owned.
41
Don Trump is a billionaire businessman who has placed one per centers in his administration.
He and his tribe don't concern themselves with trivial 400 point stock market drop, since they are rich enough to absorb market drops that could wreck havoc on regular Americans' 401 ks.
Tump's pals will gather at Mar-A-Largo and sweat over their golf scores and enjoy a gourmet lifestyle that working Americans can only dream about.
How's that gourmet prepared chocolate cake, Don?
12
There is only one reason the stocks fell today: Trump's uniformed temper.
32
One has to wonder how many of the dear leaders friends are making huge bucks from hearing him blather before the blather hits the news and the market. They are likely so happy to have him in office to give them buying and selling tips with his rants to make them richer.
19
Does anyone know if it's possible to learn of Trump or Kushner stock holdings? I'm beginning to think his tweets are intended to manipulate the market for his own gains
33
Really wish he was that smart and not just psychotically impulsive.
4
I doubt Trump has much in the markets. All his supposed wealth is in real estate. Until I see an audited balance sheet from Trump Enterprises, I'm assuming he's one step away from bankruptcy. How much does he owe the Russians?
4
Over Obama's tenure the Dow rose at an average annual rate of 12%. When Trump took office the Dow was at 20,000 and if it rose at the same 12% it would now be at 23,200.
It looks like the economy is doing no better under Trump than it did under Obama, despite the Republican tax cuts and hyperbole. Job creation, GPD growth, Stock markets are performing the same today as they did under Obama.
15
But they're a whole lot more volatile now. Get used to that new reality.
8
Waiting for Trump to tweet again about how he's responsible for how the stock market is doing. This time he'd be right!
21
I do expect his percentage drop to beat George Bushes stock market collapse.
Look out for a 50% loss to your portfolio,(https://www.bushtoll.com/2012/10/08/the-bush-stock-market-collapse/)
If markets are still standing after the wars.
Does anyone doubt that his team is less competent than Bush's?
19
The only decisions Trump makes concern his own businesses, and are his ONLY concern.
The Kochs and Mercers of the world make the political decisions, and the wealthy 1% control what happens in the stock market.
If you are middle class and depend entirely on the stock market for your financial health, I wish you luck, because you'll need it.
17
The dumbest man in the world opens his mouth and the economy of the USA goes down the toilet, make America the dust bowl again Donny boy.
30
Betcha Trump is missing Gary Cohn now....
5
When are these spineless GOP politicians going to realize that this Russian troll president should not in the greatest office in the entire world. This Russian troll is an embarrassment not only to this country but to the democratic countries of the entire world. Ms. Daniels knows what type of person he is and it is nothing to be proud of. He is on the path of world destruction. He needs to be removed from office and non to soon. The entire family needs to be gone and most people believe he is suffering from dementia.
18
Donald Trump and family are shorting the market. Trump rips Amazon for a reason. NYT you need to investigate this!!!!!!
34
Trump is a stupid idiot and a looser. The people who voted for him need to take a hard look in the mirror and take ownership of their poor judgment for electing him. This is why you don't jump off the reservation and vote for a person with NO POLITICAL experience and who won't disclose his tax returns. Huge mistake!
10
Maybe it is the first time in Trump's life that he is made to face the consequences of his actions. He can't blame Obama now. But we can expect that he will tell us the Democrats did it they blocked funding for the wall.
7
The markets always tumble during Republican presidencies. This time it's happening earlier instead of later; hopefully that bodes well for how long the bum is in office.
19
Another idiot move by our no-nothing President. The Chinese have put tariffs on
farm products that will have blowback. The man has no idea what the reprocussions are or will be for his own actions. A sure sign of immaturity.
13
Give Trump time, he's a visionary. Remember Herman Cain and his 9-9-9 plan? Doesn't sound so bad now does it?
2
The stock market did NOT tumble today. Fake News! But if it did tumble, it must be because of Crooked Hillary and every President going back to Washington (except for Andrew Jackson).
18
But trade wars are easy to win. Trump said so.
12
Elect a clown, expect a circus!
48
Good!
It's about the time reflected the steep decline of the United States during the last year.
5
Let's give Trump a big hand. Ha ha. No, two big hands - he needs 'em.
6
Is Trump tweeting about the stock market still?
4
Trump bragged for a whole year to anyone who would listen about how fantastic the stock market was doing. Now that he killed the goose with the golden eggs, he is silent.
9
America's Adventures in Wonderland featuring Sarah Sanders as the Cheshire Cat, Alex Jones as the Mad Hatter, Sean Hannity as Tweedledum, Steven Miller as Tweedledee, Rebekah Mercer as the Queen of Hearts, Jeff Sessions as the King of Hearts and Donald Trump as the Walrus. Or maybe it is The Walrus as Donald Trump? Oh, and the American Citizen as Alice.
8
Trump has no sense that his statements and positions-no matter how foolish-affects the markets. He is really and plainly brain dead
7
Not surprised at the stock market tumble what with the ignorant and evil president we have. Seems he means to destroy the country. Pray each night that he evaporates and takes his criminal crew with him.
.
9
When are they shut down or blow up the "Twitter" machine? It's killing democracy!!
6
The President is behind the market woes, not Tesla’s self-driving auto. The President is behind all the chaos and division within America. The President is Putin’s poison pill, to use financial-sector parlance. Like many American stakeholders, I am waiting for a white knight.
5
In the long haul, if I had to bet on Trump's success or or Bezos', my bet would be on Bezos.
9
Yeah, I sure feel like a stable investing genius for leaving my money in the market when Failing 45 got elected.
10
The drop in the markets today is nothing compared to what happens if the Chinese put tariffs on soybeans. Regardless, maybe we would all be better off if Trump spent more time wasting our tax dollars in traveling to Mar-a-Lago; tis hard to tweet when making bogeys and double bogeys....
9
I have never read so much ill informed blather as I have in this response section. People who know nothing about the markets, yet, somehow, seem compelled to display their absolute ignorance.
4
Please enlighten us then.
8
May I assume you voted for the stable genius?
We would all be better off with the actual stable genius, Mr. Ed.
11
It’s probably just as bad as people acting like all-knowing market soothsayers, as if it’s some great mystery to behold and not just legalized gambling.
3
Here is yet another example of why we must abolish the Electoral College. Trump's policies are intended to bring back the economy of the 1970s at the expense of the economy of the future because there is a clear electoral advantage in the Midwestern swing states. So, you see Trump pitting those areas over the rest of the country- Pittsburgh over Silicon Valley, for example. Steel and manufacturing-based industries are either already dead or dying and only make up 1/8 of the economy. But because of the electoral advantage for him in certain swing areas of the country, he is choosing the dying 1/8 of our economy over the ascending 7/8.
9
The economy of the 1970s was horrible....
3
Nice job, Trump.
6
This isn't a "correction." This is what happens when you have a total idiot making irresponsible statements and signing needless orders that are chipping away at the economy. Trump isn't going to stop the stupidity. This will will go on until he is stopped by impeachment/indictment. Trump won't be happy until he bankrupts every single IRA and retirement investor in this country. Thanks GOPERS!
22
And don't you worry. When Foxconn opens that big plant in Wisconsin you too can make iPhones 12 hours a day for $2.00 an hour.
13
Oh Americans, in another set of news putin is coming to the White House. We better be nice to Mexicans cause the way things are going our 401Ks will be worth nothing and every thing else will be owned by a putin, a trump or a kushner.
4
Can we get Mueller to add illegal stock trading and market manipulation to the Russian investigation? Will Boris (from Sinclair) tell us how bad it is?
11
Trump out. Sanity in. We are in the white coat zone.
7
The markets were giddy with a tax cut which would go directly to their bottom line.They did not look ahead to the destructive and dishonest tweets of Mr.Trump which could sink stocks.The stock market does not have a friend in the White House!
4
It's all Trump: true, the bull market is old, and p/e ratios are high enough, but Trump is single handedly giving causes of things to worry investors: a trade war, a war war, punitive actions towards companies that don't back him politically, deficit spending of unknown magnitude at this part of the business cycle.
I'd add, Trump and his people are incredibly corrupt and willing to interfere with the economy in a big way for short term gains. Those steel tariffs were meant to sway the PA congressional race; after it was over, they went away. Now Trump is just trying to keep the news off of women and Putin. He's capable of destroying YOUR JOB to keep you distracted.
6
America voted for 'change' that was opposite of Obama. Well, you got it.
39
Nothing the manchild -in-chief does is based on well thought out collaborative objective thinking!
His policies re trade -immigration -job development -energy AND his diplomacy are the midnight ravings of an incompetent grifter playing to his clueless base,
The joke of thoughtful kind progressive people everywhere!
The nadir of american prestige in the civilized world.
4
Its the senseless "easy to win" trade wars that put everyone at risk when we are finally crawling out from the great recession - finaaly after 10 long years! Another few days like this, even the Trumpsters will call for his head! They won't care whether its Obama fault or not!
Remember 10 years ago, the DOW was below 7,000. Not many people, with or wothout an IRA or 401k, will want to see that!
2
The SEC should fire up their computers to ascertain whether there were short traders in Amazon coinciding with DJT's attacks.
10
You're not suggesting insider trading by any Trump insiders, are you? Surely they wouldn't do that, right?
5
Facebook is just a blog with pictures.
How did Zuckerberg become a multibillionaire with NO innovation?
He steals all your personal information and sells it to Trump and the Russians!
He should be fined $40,000 for each of the 50,000,000 people whose information he sold illegally -- that is what the FTC said last time, when Zuckerberg got caught doing the same thing.
That amounts to a $2,000,000,000,000 -- $2 trillion fine.
The damage Zuckerberg did to US democracy is at least a $10 trillion calamity -- and we still have 3 years to go.
The tax reform bill alone adds over $1 trillion to the debt the next generation will have to pay -- Zuckerberg's generation.
Then, add in the new market crashing, higher interest rates, trade wars and getting bombed by North Korea.
This will add up to many trillions of dollars -- and it is Zuckerberg's fault.
7
It is easy to scapegoat Zuckerberg for the folly of the American people. Zuckerberg is an angel compared with previous robber barons who lead the establishment of a new generation of products. Compare Zuckerberg with people like Huntington, Carnegie and Morgan, and appreciate his moderation and probity. I do not subscribe to Facebook, but if I did, I would hold myself partially responsible for not showing any commitment to privacy. Liberals and progressives alike have been blind to the risks posed by evil people (read Russians and Republicans) exploiting our blind faith in the ability of the internet and social media to sort it all out, just as once we had all blindly accepted the correctness of the efficient markets theory.
1
Zuckerberg betrayed his users and the free market that enriched him. He was blessed with our trust and with unique opportunity. He shall be judged at the higher standard that his privilege brings. He is responsible.
1
Love it!!!! I thought the same thing. Also could never figure out why texting took off. When it was an option on flipphones I was like "this is too hard, is not as descriptive/effective as talking to someone and will kill your fingers after a while."
It also occurs to me that Trump is tanking the market on purpose to make share buy backs cheaper for his corporate donors. They have plenty of cash after the overseas-repatriation low-tax-give-away - now they are just waiting for Trump to finish setting up the fire sale.
14
You think this is bad?
Wait till Bolton and Trump get us into a shooting war with, uh, I don't know—how about Iran?
17
But I thought wars are good for business!?
1
Trump has been on a mission to undo everything President Obama accomplished.
Apparently “destroy Obama stock market gains” is one item on trump’s agenda.
34
I agree with Satch Trump and his family probably sold off their Amazon stocks a month ago. A job for NYTimes reporters!!!
18
Republicans run the economy into the ditch due to arrogance, greed, and in the Village Idiots case pure stupidity. Democrats then spend years dragging the economy back up on the road, just in time for the Republicans to jump behind the wheel again. One of these times we will be going over a bridge when we go off the road. HOLD ON!
19
Not only does the GOP get us into a 14 year shooting war, then it runs the economy off a cliff. THe Democrats come to power and a president of color sets out to fix it. Lucky for us, when Obama was elected, the Democrats had some say in congress, otherwise we would have just been passengers in the economic train wreck, and we still would be waiting for the recession to end.
That's how the GOP helped in the first years of the crash of 29, starving people were told by an elite president to, hang on, be nice to each other. The GOP believed that depressions "fix themselves" if you just give it enough time, remember, no social safety net existed then. But now Trump-o the clown and his inept cabinet, seems to think that protectionist policies and "winnable" trade wars is on vogue.
The reality is, all of this chaos, that Trump-o likes is isn't doing the markets any good, if anything it's upsetting the fine balance, and of course the worker and consumer, we will be the first to feel the effects of the higher cost of goods, and the worst, Americans will lose their jobs. But hey, if higher prices is the only bad thing to come out of a looming trade war, we should feel okay about it, being as we just got $4,000 dollars a year more to spend (thanks to Trump and the GOP tax cuts). Except the truth is, the average american worker go $40.00 a payroll, not the $4,000 promised the con man in chief.
5
It was only a matter of time before five year old DJT began destroying the economy. The 1st 12 months were an anomaly. This ignorant, petulant, self-absorbed person will destroy America.
You are delusional if you believe “I alone can fix it”
Sigh.....The late, once great, United States of America. Thanks, it was awesome.
17
He got rid of the ‘adults’ in the White House.
My husband thinks he’s doing it to take the focus off Mueller.
Both are probably correct
4
Trump was quick to take credit for the rise in markets his first year (though there was no real link between them and his actions)
Now, when the markets tank in direct response to the trade wars he is foolishly starting, I wonder if he will take credit for that too?
Somehow, I think he'll find a way to blame Obama! The man is as shameless as he is stupid.
18
He has to continue to blame Obama, and of course his go to, is "crooked Hillary". Since Trump-o the clown can't take legitimate credit, for anything. So the only thing he has is Obama, and Clinton. Who at one time, he liked, he even invited Bill and Hillary to his wedding. He must have been getting what he wanted from them.
5
Let us keep an eye on Donny J and see where and when Trump stock(s) were bought and sold....just sayin....
14
Trump's stupid big- mouthing is creating instability in the markets, fit for serious taping. Demagoging the issues is one thing, but lying about trade is an awful thing to do. Hello republicans in power, how long will you remain awol?
7
Thanks Don. Our stockmarket in Australia is directly affected by the US market. Thanks to your exquisite leadership my stocks that steadily improved in the years of Obama have now plunged. The trade war idea was inspirational as US pork producers will agree. You took credit for Obama's oversight of a world recovery from what he inherited in the GFC. Maybe people born in Kenya have a natural propensity for competent leadership.. Your exquisite stable genius exhibited in going bankrupt several times and unusual skill at losing on casinos is now being applied in running the USA. What a pity your uneducated voters without degrees in economics managed to give you victories in the electoral college despite you losing the popular vote by a million votes. Thank you for giving the free world this opportunity Mr President, of benefitting from your sublime management skills.
30
Nothing gets corporate money flowing to political parties more than the threat of additional legislation. While trump's personal hatred of Bezos is legendary (and would make a great opera), trump ultimately cares only about money. Amazon and companies spent more than $14 million on lobbyists last year—a rich stream of election year influence funds waiting to be tapped.
5
The most dishonest and loathsome president we’ve ever had. How can any business invest or foretell future events when such an unstable character as he is calling the shots. The stock market is volatile for a reason.
41
A good number of technology firms are in California. Technology is the future and Trump doesn't want to see them flourish. He hates California so much he's willing to see them fail so this county can go back to mining coal like its never been mined before. He will continue his diatribe against these solid companies, but the stock market will come back after he has done everything he can to make them look like failures. He and the people that put this mess of a man in office want to go back to the "good olde days". And I thought George Bush was a bad president. Trump makes George look almost brilliant. Almost. Let the 2018 elections be a massive lost for all republicans seeking reelection. Vote democratic in 2018. Get rid of these so called God fearing, Trump worshippers, so called fiscally conservative, gun loving, regulation hating, let's take the county back to the 1800's in November. Vote them all out of office while you can still vote.
58
Silicon Valley companies, like Facebook and Twitter, actually helped get Trump elected.
1
In your wildest flight of imagination what would the Republicans be saying if Obama had attacked General Electric or Boeing by name, claiming they are cheating in the market. Holy cow. Karl Marx in the White House. A Kenyan anti-colonialist front man. If Obama had clear political or financial motives (or friends who would benefit) gaskets would be blown. Perhaps Amazon should fight back by adding two days of delivery time to products it will deliver by horse and buggy. At least Trump is not a hypocrit....surely he and his ilk do not use Amazon. They drive 20 miles in their gas guzzlers to a Walmart that has never put a small business out of business. This whole thing is nuts, and stockholders are already being hurt. Hmmmm, you don't surprise presidential buddies are selling short....
30
Trump voters looked the other way when Trump went on his racist tirades during his campaign. They looked the other way when he made bigoted slurs, insulted a person with disabilities, and urged his followers to assault the press. Trump voters looked the other way when Trump told them sexual assault was a joke.
Then after the election, Trump voters looked away as Trump told the nation that neo-Nazis and KKK were some very fine people. And Trump voters will tell you that they continue to look away from the nightmarish turn this nation has taken, because he is such a good "business man".
Now most Trump voters (nearly all white) aren't multi-millionaires and stand to lose much as his administration dismantles the solid economy it took President Obama eight long years to get back on track, after the debacle of the Dubya administration.
So when Trump voters lose their pension funds, when Trump voters continue to hemorrhage jobs, when Trump voters lose their health insurance, and when Trump voters can no longer afford to go to college, they will be in denial. They will blame everyone but themselves.
But there would be no abomination in the White House that is Donald Trump without them. They have brought their hardship on themselves, and I for one am thrilled. Let them take responsibility for their actions, for once in their lives.
My only regret is that their decisions have harmed so many of the rest of us. But the "suffering" of Trump voters means nothing to me.
66
DB Cooper,
You underestimate the trump voters’ ability to devise a way to blame President Obama.
5
But they won't take responsibility for their actions: I have very little doubt that their responses, thanks in part to a very biased media, to a Market slump will be:
Claiming it's a 'natural correction',
'Nothing to to do with Trump',
and - of course - the nonsensical & unprovable shrill that it 'would have been worse under Hillary'.
3
I despise Trump. I also agree that his tweets and policies are having a short term effect on market valuations (both good and bad).
That said, the bull run was already over eight years old or so when he took office and these things are pretty cyclic at the macro level. We were due a downturn and no amount of short-term market steroids (deregulation, tax breaks, or financial-nitwit-overzealous-cult-of-trump-dip-buyers) can stop that cyclic correction from happening.
The market will correct and then it will go back up again - rinse and repeat.
Where Trump and his ilk will have an effect is with how much of the next recovery goes to the little guy. The big guys can ride out the periodic dips and count on outright bailouts, cheap money through quantitative easing, and any other number of corporate welfare packages to "save the job creators" if they get into trouble. Never mind that it's Republican championed deregulation that usually gets them in trouble to begin with.
Retirees however, if they are lucky enough to have an IRA/401k, will probably have to sell some shares at the bad end of the market to put food on the table when Medicare and Social Security get gutted by corporate sycophant Republicans. Those lucky enough to have a company or state funded pension will suffer when pension cuts kick in do to under-performance. The 50% of Americans that don't have a (mostly underfunded) retirement fund will be even more hosed.
Enjoy your trickle down "economic boom"
10
And the Trump Slump in the market continues.
11
I have seen it, even here in the NYT comment sections that it’s a good thing that Trump is punishing China, some say China has been getting away with economic murder and they should be reeled in. Don’t these people understand that every other United States President before Trumo could have done the same exact thing but they didn’t .... because they knew it would hurt the US economy to get into a trade war with over a billion customers . This is what happens when you take someone who is good at selling Manhattan condos and not much else and put him in charge of EVERYTHING. If we ever get to the point of margin calls ... the type of thing that is the accelerant to a Wall Street bonfire we are going to have a catastrophe on our hands and three more years of these people in charge of it.
11
So much winning I can’t stand it. Every time Trump utters a word, I lose money. And we are watching our advantages and our future being taken away from us due to his emerging habit of being a dictator by doing things such as attacking Amazon. This is not normal, should not be tolerated, and this must be stopped
7
What goes up, must come down. It’s not about the health of the economy, it’s about the clown in the White House. Instability is really bad for business.
11
I’ve been wondering whether Trump is devious enough to let his family and friends know in advance that he’s going to tweet something that will affect the stock market, and certain stocks in particular, so they can sell high or buy law. Surely not!
10
That's a pretty safe bet, for sure.
1
The SPX just crashed through the 200 day moving average. This is a self inflicted wound. We would be much better off if Trump did nothing. Please, I am getting tired of all this winning.
8
Funny we haven't heard a fairy tale from Wall Street reality TV star Larry Always Wrong Kudlow on how Goldilocks will win the day?
6
This is just the beginning.
7
Remember Candidate Obama's analogy about the economy being "off the road (in the ditch)"? With Republicans in control, why do I have this sinking "deja vu" feeling????
4
the market must be tired of all that winning...
4
Tired of all the winning here.
3
To the geniuses who voted for Trump thinking he’d be good for business: this is what crony capitalism looks like.
No third world dictator takes actions thinking that he’s ruining the country with his self serving ways. In his mind, he’s doing the right thing.
Trump voters need to account for one thing: forget about the Deep State and so called conspiracies to get Trump. What about his own instability and chaos?
Why is he hiring people to fire them and is unable to hire quality people?
Whoever heard of someone who couldn’t even get lawyers to represent him?
How despicable and incompetent do you need to be for that to happen?
9
Trump is a pretty shrewd guy. Here's why: by threatening tariffs with whomever, the President has put the breaks on an overheated stock market and basically took away the impeding selloff that so many were worried about. He has also created another arrow for his fiscal quiver. Once he hammers out trade deals with tariff-threatened countries, he will announce that tariffs are no longer necessary (as long as said countries comply with their respective deals). Look for the denouement around September of this year.
2
That's a "shrewd" interpretation that Trump may just borrow if and when it unfolds that way - but I personally don't believe Trump has the foresight to plan past waking up in the morning and turning on the tube.
2
Yup. Real shrewd. Kick America into a major recession JUST in time for the 2018 Mid-Terms--that will be your "denoument". Maybe even the Democrats can manage to win big then!
S&P 500 down 10.1% in 2 months--that kills everyone's year.
Every step this guy takes, takes down the economy and the stock market another notch. Took Obama 8 years to fix the Bush mess, and in 1 year and 2+ months Trump is at the brink of undoing ALL of it!
By the summer of 1973 it was nearly impossible to find anyone who admitted to voting for Richard Nixon (except a few John Bolton and Archie Bunker types). Amazing that there are still Trump fans out there.
9
Trump only thinks he is shrewd. He has probably not even heard of the Smoot-Hawley tariff. The Chinese and North Korean leaders can outsmart him without his even knowing what has happened. It is dangerous to be stupid but think you are smart.
4
I have only experienced the removal of one American President; Nixon. I was an extremely painful process that affected most Americans. The fall in the stock market is just one piece of the pain puzzle that is being assembled. There will be more before Trump is gone.
8
What does the stock market have to do with Trump, pray tell? Because of a so-called trade war that we haven't even engaged in yet? The only piece of the puzzle missing here is the rational part of your brain.
1
A few dozen economists and business leaders have answered your question so maybe you should start listening to them and inform yourself before you accuse others who understand basic economics of being brainless.
2
Trump's ludicrous accusations spook markets.
thats what HE has to do with the stock market
Why is Trump starting a trade war with China? If it wasn't for the Chinese workers, who are content to work for $1 per hour, as opposed to the American workers who complain that anything less than $15 an hour is inadequate, we would not have been able to subsist on the minimum wage that many of us make here in America.
Why do you think it is possible for many of us to visit Walmart and leave with 5 full bags of groceries for less than $40? Isn't it because international trade drives down prices?
Why does this president attack a U.S. company success story named Amazon? Why is he attacking the Post Office?
And now China is retaliating with their own tariffs which are going to hurt American poultry, farming and manufacturing.
What is the sense in starting a trade war that is going to hurt America's working class?
36
So true! You've noticed what many can't even imagine.
I lived in China for a couple of years and hardly a week passed without considerable numbers workers expressing contentment with their miniscule per hour wages in all the dailies and on the telly too.
At that time it was merely 70 cents an hour in wages, on average. They're currently grateful for their rising wages and anticipate soon eating big bowls or rice with a choice of three slim slices of pork, beef, chicken or dofu.
And the Chinese run a tight ship as we know, so you do not learn of people rising up daily in many parts of China. Among them are many ingrates hell-bent on a buck thirty an hour.
1
Please tell all of us where there is a Walmart which has prices so low, you can get "five full bags of groceries for less than $40.00?"
3
Five bags of spam and ramen noodles maybe?
I suggest you get used to it now as, thanks to Trump's deft handling of the economy, your retirement meals will consist almost solely of these two ingredients.
THE MARKET IS NOT THE ECONOMY.
13
Tell that to marketers and economists.
5
Enjoy those Tax Cuts, Rich Trump fans. You're going to lose a lot more cash in the Market Crash. Just saying.
34
Boeing was down 1.7 percent, because it sells a lot of aircraft to China (buy Airbus stock!) and it gets entire tail assemblies for some jets from China; now that "part" costs 25% more, and China could further slow down shipment which means Boeing would have to halt building those planes.
13
Now, will Trump be bragging about the stock market now, especially since he is responsible for causing the market to tumble?
30
Oh no, don't you know it's all Obama and Crooked Hilary's fault? What's wrong with you, don't you know anything? (sarcasm abounds).
5
Who will play Seneca to Trump’s Nero?
8
Who will be Cato to Trump's Carthage?
2
Good to see that I'm not alone in having read this morning's NYT article on Seneca, et al.
All this winning is stressing me out.
66
You must have meant "whining." Which it is not. Rather a palpable, measurable response to the injurious and ideological based actions of the Trump administration.
2
Sarcasm. Tongue in cheek.
I'm not whining, I'm acting in every way I can against this abhorrent, mendacious man and the government he employs.
3
This morning, Trump again touted the great American economy. Was he watching the stock market?
It’s a mystery Americans are surprised by the recent fall in the stock market. The recent increase was from speculation and Trump’s Christmas present – actually, increase in national debt.
Trump is likely executing a program he’s previously done and benefitted from – promote a false promise, transfer wealth to himself and the wealthy, leading to an ultimate financial catastrophe that others will pay. Is Trump known for building long-term value for the hard-working middle class?
Forget about what Trump and says – watch the real numbers. Tax Revenue, Spending, Deficits and National Debt. Add in the social commitment to pay 100% of social security for all who contributed. The rest is just noise.
Follow the facts – Revenue will be down. Spending, deficits and debt will be up. The increase in national debt exceeded the increase in GDP since Trump took office!
We must find a way to hold self-interested and self-dealing Politicians and their staffers, from both parties, personally liable, responsible and accountable for the lies they have told US, their gross mismanagement of our county, our $21 T and growing national debt (108% of GDP), and approximately 80 T in future, unfunded liabilities they forced on US jeopardizing our economic and national security, while benefiting themselves, their staffers, their party and special interest donors.
http://www.USDebtForum.com
28
We have got to get rid of trump and his Congressional cronies who refuse to put a check on trump's insanity.
28
And where are the clowns?
Quick, send in the clowns.
Don't bother, they're here.
31
Can I say it? Can I say it?
Thank God Hillary isn't president.
(just kidding)
9
I love to win, but I am tired. thanks Mr President for giving me a little break.
14
The only good to come out of this, if any ever does, is we all realize our three branch government only works when people of principal and loyalty inhabit the system. What we're witnessing is a collapse of leadership and a top down disintegration of our values, rules, regulations. If we're lucky and get out of it with semblance enough make an ethical rebound, the U.S. may regain it's place as a fair and caring democracy. Downside is that our GOP congress had shown itself to be a cheap date in a grocery store, willing to take any handout the prezsplainer gives them.
55
Well, think about it... what percentage of Trump's so-called "base" has much of an investment in the stock market? This persistent group of supporters may not have much stake in the market, and may actually find some delight in seeing diminishing portfolios.
10
I think you will find some empathy with these folks when they start experiencing "diminishing" paychecks.
5
Time to impeach, GOP.
The only reasons Trump is in office, the only reason MOST Republicans are in office, is because enough moderates - most of whom are relatively affluent, and who care primarily about fiscal and economic issues, not culture wars - hold their noses when they vote and say "well, at least the GOP is good for my bank account."
Not so anymore. If the Republicans do not support Mueller and act decisively on Mueller's findings, they will have NO MORE credibility as the party of "The Economy." None.
A party of nothing but fetus worship, homophobia, anti-immigration demagoguery, and old man sentiment about "Them kids these days who shop on Amazon!" cannot by itself win national or even most state elections without some independent and moderate voters.
96
Hopefully, everyone will turn out in November to perform their civic duty. Vote!!
6
If you're wondering where all the stories were while the Dow climbed all those thousands of points, you're right - it is ONLY news when things don't look good for this President. Don't think for a moment that we're just producing and/or reading a newspaper here.
4
I'm sure you gave president Obama his due when he strengthened the economy and reduced unemployment. Oh, but wait, he wasn't born in the US, right?
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There were plenty of stories when the market roared. You weren't paying attention. And do you really believe the Dow rose or fell because of the media? These are real consequences based on how stock markets traditionally react to this kind of news.
13
Here you go, NYT article published two months about the Dow hitting a record and rallying for two years straight:
https://www.nytimes.com/2018/01/04/business/dealbook/dow-25000.html
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