Trump Takes a Wrecking Ball to Wall Street
Stocks get crushed by recession fears, with the S&P 500 plunging 9% this week.
This article is for subscribers only.
Investors were forced to reckon with President Donald Trump’s vision for the US economy this week, and the verdict was dire: the trade war he unleashed is threatening to set off a worldwide recession — and fast.
Less than 48 hours after Trump rolled out his punitive tariffs, China retaliated. Now traders are pricing in what increasingly looks like a negative-feedback loop as Trump indicates he’s not going to back down.
Here's how the week ended: