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News@lemmy.world · 2 months ago

Fear that Trump tariffs will spark recession wipes out more than $2 trillion in value from US stocks

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Fear that Trump tariffs will spark recession wipes out more than $2 trillion in value from US stocks

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News@lemmy.world · 2 months ago

Wall Street retreat extends into second day after China retaliates against Trump tariffs

U.S. companies were getting hammered again in the stock market Friday after China matched President Donald Trump’s tariffs in what is a rapidly escalating trade war.

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  These tariffs are a tax on the working class, which they will gladly pay.
  
  When taxes rise consumption falls. The wealthy live off the fat of consumption.

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