March 4, 2025
It didn’t take a rocket scientist to predict what was about to happen today. The DOW dropped nearly 500 points today and the markets are not even closed yet, and the Nasdaq is flirting with correction territory. Why? Because Donald J. Trump has foolishly initiated a trade war.
People close to me, including my wife have been checking their stock values all day. My wife is upset, but I informed her that this day was coming. In a single day, she lost $500.00 in less than 4 hours. The markets have a few hours to go.
U.S. stocks saw losses mount on Tuesday as our felon president, Donald J Truimp put tariffs on key trade partners, which our partners were waiting for a signal to initiate their own tariffs on the United States. So what we have now is a global trade war and escalating fears of the national economy cracking.
Our fearless president instituted 25% duties on Canada and Mexico that took effect at midnight. Trump also slapped an additional 10% tariff on Chinese goods.
Monday’s plunge in the market didn’t phase Trump, because it ONLY amounted to a 1.2% drop. That drop was about 650 points. The S&P shed .8%. But that small percentage amounted to millions of dollars lost.
Nasdaq Composite didn’t feel the crunch as much, as they were cushioned by gains by Nvidia and Alphabet.
In reality up until today, the trading was not as bad as it will start with today’s free fall. That’s because the traders really weren’t sure if Trump would pull off this sick stunt, but now he has.
After Trump imposed tariffs on Canada of 25%, Justin Trudeau initiated their retaliation tariff on the United States of 25%. So what does Trump do? He said that he would add even higher tariffs on Canada. So what’s next? Will oil now be cut off by Canada? Before Trump became president, Canada was exporting 97% of all of their oil production to the United States. No tariffs, as a result of the Trump USMCA agreement made by Trump and his neighbors of Canada and Mexico. But Trump has decided that he would no longer be bound by the USMCA agreement, the one that he instituted and our neighboring countries accepted during his first term.
Trump is no less than a RAT. He is undermining our economy, and hurting the world with his selfish actions. The markets were at an all-time high before he came into office. Now they are tanking. Millions and millions of dollars of investments by Americans have already been thrown out the window. Some Americans will never recover from this.
Trump was right when he stated that the country will feel ‘PAIN’. Is this what the people elected him to do? What about lowering prices for the middle class. What about NO TAX ON TIPS. Oh wait. The only thing Trump wants to do is help is rich friends with tax cuts.
I am making a very bold prediction here. I can feel it in my blood. If things continue with the way things are going with the economy, things like Social Security can fail within the next 3 months. You can laugh at this prediction saying that you have been paying into the fund your whole life. Well if that doesn’t get your gander up, nothing will, because I have been predicting this day for the last 6 weeks, and noone, not even my close friends and family members beleived it would happen. But here we are. Actually, I was suprised that my social security check arrived on time this month. Again I hope I’m wrong.
I will give another update here when the markets close later today. In the meantime, I need to console my wife as she is pretty upset with her investment strategy at the moment.