US stocks were battered by a sell-off Friday after China retaliated against the United States for President Donald Trump’s tariffs in a tit-for-tat that escalates a global trade war.
The Dow plunged by 1,950 points Friday afternoon, or 4.82%, pulling back slightly after being down more than 2,000 points. The broader S&P 500 was 5.4% lower. The tech-heavy Nasdaq Composite was 5.36% lower and on track to close in a bear market — down more than 20% from its record high in December.
Yes, run to other countries
Where? Pax Americana enveloped all of the developed world and American shanenigans have an impact on everywhere it would be nice to live. Late stage capitalism is a global problem nowadays. Americans are getting fucked economically but europeans are facing the collapse of security structures and the need for huge arms investments, also the wave of right wing populism doesn’t seem to be receeding. IDK too much about situation in south America but apart from Argentina 100 years ago SA countries never seemed to be the best of countries to live. Developed nations of Asia probably have the same problems as Europe right now.
I guess we should just hope that China doesn’t turn their strategy from economic expansion to something more imperialistic and will still be satisfied with us just consuming tons of their plastic shit.
I’m actually hopeful it will spark a New Deal like situation and result in more and better jobs. Also, a lot of the military readiness stuff is dual use, for example the biggest hurdle for military readiness against Russia seems to be the terrible state of German railways.
Ok, howabout non millionaires?
Let’s break it down further.
I got 13 gil and some pocket lint.