Apr 07, 2025 05:18 AM IST
Futures on the Dow Jones have been down over 1,500 factors and 4% for S&P 500 on Sunday amid fears of a ‘Black Monday’
Futures on the Dow Jones have been down over 1,500 factors and 4% for thevS&P 500 on Sunday amid fears of a ‘Black Monday’ on April 7. When requested in regards to the plummet, President Donald Trump mentioned ‘generally we now have to take the medication’.
Trump’s assertion got here a day after CNBC market analyst Jim Cramer warned traders a few Black Monday-like crash. Again in 1987, the Dow Jones had plunged 22.6% inside a buying and selling session. Throughout his present, Cramer added that if the ‘president doesn’t attempt to attain out and reward these nations and corporations (hit by tariffs) that play by the principles, then the 1987 state of affairs… the one the place we went down three days after which down 22% on Monday, has probably the most cogency’.
Learn Extra: Donald Trump says ‘time to get wealthy’ as Dow Jones crash sparks recession fears
Dow Jones Industrial Common futures fell 1,531 factors, or 4.1% Sunday night. Nasdaq-100 futures tanked 5.3%. This comes days after the Dow posted back-to-back losses of greater than 1,500 factors for the primary time. It fell 2,231 factors on Friday. The losses adopted Trump’s ‘Liberation Day’ tariffs announcement on Wednesday. Greater than $6 trillion have been wiped away from the inventory market, in keeping with an AFP report.
Learn Extra: ‘Test the 5-year-chart’: MAGA defends Trump amid Dow Jones plummet
President Trump, nevertheless, dismissed the market crash as a ‘nice time to get wealthy’. In a Reality Social put up, he wrote: “To the numerous traders coming into america and investing huge quantities of cash, my insurance policies won’t ever change. This can be a nice time to get wealthy, richer than ever earlier than!!!”
“Large enterprise isn’t anxious in regards to the Tariffs, as a result of they know they’re right here to remain, however they’re targeted on the BIG, BEAUTIFUL DEAL, which can SUPERCHARGE our Economic system. Essential. Occurring proper now!!!” he added.
