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U.S. stock market loses $5 trillion in value in three weeks (www.cnbc.com)

submitted 2 days ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Summary

The U.S. stock market has lost over $5 trillion in value in three weeks as the S&P 500 fell 10% from its record high.

The decline, driven by concerns over Trump’s trade policies and slowing economic growth, has led to weaker consumer sentiment and cautious corporate outlooks.

Barclays strategist Emmanuel Cau noted rising uncertainty among investors.

The selloff has also hit AI-related stocks, with Nvidia down 17% and the Magnificent Seven ETF falling 16%.

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[–] Treczoks@lemmy.world 54 points 2 days ago (3 children)

You cannot say that Trump runs the government better or worse than a business. Remember: he managed to ruin a casino, usually an amazingly difficult feat.

[–] Harbarbalar@lemmy.world 8 points 14 hours ago

Remember: he managed to ruin a casino, usually an amazingly difficult feat.

SIX casinos.

[–] JollyBrancher@lemm.ee 16 points 2 days ago (1 children)

Nobody has ever ran business like this before - believe me. Experts look at it and, and they - the experts - they say wow. Just WOW. They just can't find them - the words. The words. The words - they just come to me. Such beautiful words. Just the other day, a successful business owner came up to me and said sir - you have such beautiful words. Can you believe that? Such a strong business man. No surprise. He's clearly so smart. But I can just say words and people love them. Words together; words apart. Never together unless it's in an ok way. But we'll figure that out. You know what I mean. But we'll figure that out. We'll figure it out with the experts. The experts - states. The states figure that out.

[–] mxcory@lemmy.blahaj.zone 3 points 14 hours ago

I hate how real this feels.

[–] iopq@lemmy.world 4 points 2 days ago (1 children)

That's not actually true, casinos go broke just like normal businesses

https://news.temple.edu/news/2016-10-25/bankruptcy-expert-studies-trump-casinos

You can see from the graph other Atlantic City casinos had a hard time too, just not as bad as Trump's

[–] prole@lemmy.blahaj.zone 6 points 1 day ago

Did they also have their daddies come in on multiple occasions to buy millions of dollars of chips in cash, and then dispose of them?

https://www.motherjones.com/2020-elections/2020/09/trump-files-fred-trump-funneled-cash-donald-using-casino-chips/