US President Donald Trump on Monday said that America could have done something decades ago, referring to his tariff reforms , and asked people not to be weak and stupid.
These remarks came just a few minutes before the New York stock market crashed, where the S&P 500 opened 3.2% lower.
"The United States has a chance to do something that should have been done DECADES AGO. Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!). Be Strong, Courageous, and Patient, and GREATNESS will be the result!" Trump said in a post on Truth Social.
US market crashed
US stock markets joined the global market selloff on Monday. At 9:38 AM GMT, S&P 500 was trading at 4,870.94, down 203 points or 4%. Nasdaq was at 14,894.10, down 694 points or 4.45%. S&P 500 saw its poorest performance since the COVID-induced economic crisis in March 2020. The Dow Jones Industrial Average declined by 1,200 points.
European and Asian markets experienced sharp declines, whilst S&P 500 index futures declined 2.7% during premarket trading. The index had fallen 17.4% from its February peak by the close of the previous week. Market analysts typically classify a decline of 20% or more from a recent peak as a bear market, according to an AP report.
Crude oil prices continued their downward trend, momentarily falling under $60 per barrel, reaching levels not seen since 2021. Dow Jones Industrial Average futures decreased by 2.4%, whilst Nasdaq futures registered a 3% decline.Trump reaffirmed his stance on reciprocal tariffs on Sunday regarding trade deficit reduction with partner nations, indicating he would not negotiate unless this issue was addressed.
These remarks came just a few minutes before the New York stock market crashed, where the S&P 500 opened 3.2% lower.
"The United States has a chance to do something that should have been done DECADES AGO. Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!). Be Strong, Courageous, and Patient, and GREATNESS will be the result!" Trump said in a post on Truth Social.
US market crashed
US stock markets joined the global market selloff on Monday. At 9:38 AM GMT, S&P 500 was trading at 4,870.94, down 203 points or 4%. Nasdaq was at 14,894.10, down 694 points or 4.45%. S&P 500 saw its poorest performance since the COVID-induced economic crisis in March 2020. The Dow Jones Industrial Average declined by 1,200 points.
European and Asian markets experienced sharp declines, whilst S&P 500 index futures declined 2.7% during premarket trading. The index had fallen 17.4% from its February peak by the close of the previous week. Market analysts typically classify a decline of 20% or more from a recent peak as a bear market, according to an AP report.
Crude oil prices continued their downward trend, momentarily falling under $60 per barrel, reaching levels not seen since 2021. Dow Jones Industrial Average futures decreased by 2.4%, whilst Nasdaq futures registered a 3% decline.Trump reaffirmed his stance on reciprocal tariffs on Sunday regarding trade deficit reduction with partner nations, indicating he would not negotiate unless this issue was addressed.
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