Originally Posted by Rod Kaufman
"Wall Street is falling again Tuesday as U.S. households get more pessimistic about the economy because of inflation, tariffs and other policies coming from Washington."
"the latest update said confidence among U.S. consumers is falling by more than economists expected."
"But for the first time since June, a measure of consumers’ expectations for the economy in the short term fell below a threshold that usually signals a recession ahead, according to The Conference Board. The increase in pessimism was broad-based and carried across both higher- and lower-income households, as well as older and younger ones."
https://apnews.com/article/stocks-markets-rates-tariffs-china-86706b1215b5be59466c77f577ae888b
Another Republican, another recession...
"Both the broad market index and the tech-heavy Nasdaq are on pace for their worst week since September 2024."
"In a post on Truth Social, Trump announced the proposed tariffs of 25% on Mexico and Canada will take effect on March 4 after the one-month moratorium ends. Trump claimed that the two countries had yet to curb the flow of drugs over the border by enough. The president also stated that China, which already faces 10% tariffs from the U.S., would face an additional 10% levy."
"Besides Trump’s tariff declaration, a jump in jobless claims also subdued sentiment, adding to recent concerns of economic softening. Jobless claims for the week ended Feb. 22 came in at 242,000. This was up 22,000 from the previous week’s revised level and higher than the Dow Jones estimate for 225,000, according to a Labor Department report Thursday."
"This comes on the back of several other recent economic reports — including a softer-than-expected consumer confidence reading, disappointing retail sales numbers and a weak consumer sentiment reading — which have rattled stocks and raised worries about the health of the U.S. economy."
https://www.cnbc.com/2025/02/26/stock-market-today-live-updates.html
How's that for bang-up job Trump is doing for the economy?