KEY POINTS
- The so-called Magnificent Seven stocks lost a combined $1.8 trillion in market value over the last two trading sessions.
- Apple led the losses for the group shaving off more than $533 billion in market capitalization.
- The Nasdaq recorded its worst week since 2020 as markets responded to mounting fears of a global trade war that could push the U.S. into a recession.
Goddamn there’s being a pathetic simp, and then there’s wearing a “Trump was right about everything” hat. People theorize that Musk is the boss in their relationship but I bet some trump crony put the hat in his hands and said “wear it”. And he did. And then later asked if trump saw him wearing it.
I imagine a lot of this data is because they are the ones cashing out so I don’t know how accurate this is. I feel Its more likely the American population’s 401k are losing the value here. Billionaires selling off billions vs my measly 100k is going to have a more dramatic market effect. If that’s the case hopefully we see some massive capital gains tax… But my guess is this money is being reinvested somewhere else or offshored.
Does anyone else not know how to feel about this?
Terrified of the possibility of a repeat of the 2008 financial crisis. Having grown up watching my family get through it did not endear me to the prospect of going through it myself. I was making good money 6 years ago. We are scraping by today. If things get as bad as 2008 again, I honestly have no idea what we’ll do.
This is going to make '08 look like a picnic.
5 years is nothing, wake me up when we have hit a recession worse than the 1920’s. Let Americans starve, really, as that is exactly what they voted for. I really really wish it were different but here we are, this is trump world now
