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Topics: US News, Money, Donald Trump, Politics
Donald Trump has warned people not to be 'a PANICAN' amid the stock market plummeting.
On April 2, Donald Trump declared it 'Liberation Day' for the US, unveiling even more tariffs on countries across the globe in a bid to see the 'American industry reborn'.
Trump's tariff endgame? Well, one social media user seemed to think the 47th President of the US has played a risky 'chess move' by 'purposely crashing the market'.
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One thing's for sure, Trump has certainly crashed the market - causing $2 trillion to be wiped in just 25 seconds.
Despite the drop, the POTUS has continued to double down on the 'beautiful' tariffs, stating with 'massive financial deficits with China, the European and many others,' the 'only way this problem can be cured is with tariffs'.
So, are you just being 'weak' and 'stupid' if you're panicking?
Well, according to Trump you are, the president taking to Truth Social to write: "The United States has a chance to do something that should have been done DECADES AGO. Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!). Be Strong, Courageous, and Patient, and GREATNESS will be the result!"
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Whether it is greatness or not? Well, a TikTok video - shared to Twitter - theorized: "Trump is crashing the stock market by 20 percent this month, but he's doing it on purpose.
"Now here's the secret game he's playing and it could make you rich. So why is he doing this? To push cash into treasuries which forces the Fed to slash interest rates in May and those lower rates give the Fed the ability to refinance trillions of debt very inexpensively. It also weakens the dollar and drops mortgage rates."
Branding it a 'wild' but 'working' 'chess move,' the Twitter user called Trump's tariffs a 'genius play' which 'forces companies to build here to dodge them' and 'forces farmers to sell more of their products here in the US to bring grocery prices way down'.
Trump later took to Truth Social to hint at Fed Chairman Jerome Powell about interest rates and how it would be a 'perfect time' to cut them.
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He said: "Energy prices are down, Interest Rates are down, Inflation is down, even Eggs are down 69 percent, and Jobs are UP, all within two months - A BIG WIN for America.
"CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!"
However, another thing falling - if not plummeting - down, are stocks.
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Last night (April 6), Dow Jones Industrial Average fell 2.1 percent and the S&P 500 was down around 2.5 percent.
Nasdaq also fell by around 3.1 percent and shares across Asia fell harshly, with Tokyo’s 225 index losing about eight percent when the market opened and coming down six percent by midday, as per the news outlet.
Hong Kong’s Hang Seng also fell 9.4 percent and the Shanghai Composite index suffered a 6.2 percent loss.
The POTUS said he doesn't want to see stocks fall, but stated 'sometimes you have to take medicine to fix something' - the question is, will the US economy end up fixed as a result?