It looks like stocks are heading even lower.
>>>NEW YORK (AP) —
President Donald Trump’s “Liberation Day” is fast approaching, and stock markets from Wall Street to Wellington, New Zealand, are falling Monday in advance of it.
In New York, the S&P 500 was down 0.8% following
one of its worst losses of the past couple of years on Friday. It’s on track to finish the first three months of the year with a loss of 5.9%, which could make this its worst quarter in
nearly three years.
The Dow Jones Industrial Average was down 111 points, or 0.3%, as of 10:10 a.m. Eastern time, and the Nasdaq composite was 1.7% lower.<<<
President Donald Trump’s “Liberation Day” is fast approaching, and stock markets around the world are falling in advance of it.
apnews.com
As of March 10, 2025, the S&P 500 alone lost $4 trillion from the peak in February.
>>>NEW YORK, March 10 (Reuters) - President Donald Trump’s tariffs have spooked investors, with fears of an economic downturn driving a stock market sell-off that has wiped out $4 trillion from the S&P 500’s peak last month, when Wall Street was cheering much of Trump's agenda.<<<
US investors own about 60% of the stocks in U.S. companies, which means those in the U.S. lost about $2.4 trillion on the S&P alone.
As far as I can tell, this far exceeds any amount the DOGE crew might be able to save. Musk said $2 trillion per year, but this is clearly not possible here in the real world:
View attachment 73009
>>>"It is completely impossible for DOGE to save $2 trillion," Jessica Riedl, an economist and senior fellow at the Manhattan Institute, a conservative-leaning think tank,
recently told CBS. "Two-thirds of the $7 trillion federal budget goes to Social Security, Medicare, defense, veterans and interest on the debt — all of which has been taken off the table by President Trump. Saving $2 trillion would require eliminating nearly every remaining federal program.”
Riedl added: “DOGE has no legal or constitutional authority to cut this spending; Congress must pass a law.”<<<
DOGE claims $115 billion in savings over the first seven weeks — but its own ‘wall of receipts’ shows just $35 billion.
www.yahoo.com
It's hard to see how people will come out ahead financially under Trump.
