Wall Street jitters, US stocks' plunge amid gloomy economic outlook
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US leader’s tariffs pose uncertainty for investors

All three major U.S. stock indexes dropped sharply in Monday morning trading, with investors worried about the uncertainty of tariffs imposed by President Donald Trump on key trading partners and then his refusal to rule out the possibility of a U.S. recession in the coming months.

  • tal@lemmy.todayEnglish
    8·
    21 hours ago

    Commerce Secretary Howard Lutnick told NBC News over the weekend, "There’s going to be no recession in America,”

    Well, a recession is two consecutive quarters of declining GDP.

    https://apnews.com/article/trump-gdp-economy-government-spending-lutnick-7414ba1bd441bd4bf64620bfd66923b2

    The Trump administration may exclude government spending from GDP, obscuring the impact of DOGE cuts

    WEST PALM BEACH, Fla. (AP) — Commerce Secretary Howard Lutnick said Sunday that government spending could be separated from gross domestic product reports, in response to questions about whether the spending cuts pushed by Elon Musk’s Department of Government Efficiency could possibly cause an economic downturn.

    • OutlierBlue@lemmy.caEnglish
      8·
      20 hours ago

      a recession is two consecutive quarters of declining GDP

      If he crashes it hard enough in the first quarter, it can’t decline more in the second! He’s a genius!