April 8, 2025
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22:59Now PlayingThe decision by the twice impeached, criminally convicted felon-in-chief Donald "The Con" Trump to impose large tariffs on all foreign imports has triggered a global trade war, stock market collapse, and predictions of an imminent recession.
In the wake of last week's tariff announcement, JP Morgan raised its odds of a US recession to 60 percent, up from 40 percent. Other banks have similarly adjusted their economic forecasts downward.
We are witnessing what many analysts call the early stages of a global financial collapse.
Today's numbers aren't good...
Global financial markets continue to experience severe turbulence. Today's morning trading in Europe began with a sharp decline:
German DAX fell by more than 6.5%,
British FTSE 100 - by approximately 5%,
The French index also declined by almost 6%.
These losses are a continuation of the "wave of horror" caused by the trade measures of Trump's administration. Asian markets have already demonstrated a "sea of red":
Japanese Nikkei at its peak was down by almost 9%,
Hang Seng in Hong Kong fell by more than 13%,
South Korea and Taiwan - also in a deep "red zone".
Chinese investors are warning of a "terrible Monday.
Is it a crash or collapse? That's the debate the financial folks had over on Fox News.
Now lets take a look at the roller coaster of a day here.
The Dow closed lower by 349 points, or 0.91%.
The broader S&P 500 fell 0.23%.
The Nasdaq Composite was 0.1% higher after fluctuating between gains and losses.
Nebraska Republican Congressman Don Bacon introduced a bill to remove Trump's ability to impose tariffs and give Congress control.
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