šØ Liberation Day Lands Like a Brick ā Markets Rattle as Trump Drops 10% Global Tariff
š Apple tanks, Big Tech buckles, and America just got a little more expensive. Welcome to the New Trade World Order.
š Market Recap ā April 2, 2025:
S&P 500: š» -1.4%
Nasdaq: š» -2.1%
Dow: š» -0.8%
Gold: ā¬ļø Hits another all-time high
Apple (AAPL): š» -7% after-hours
Nvidia (NVDA): š» -4.5% post-close
TSMC, Tesla, Amazon: All lower
š„ What Happened?
President Trump finally pulled the trigger. At a Rose Garden press event wrapped in flags and bravado, he declared April 2nd āLiberation Dayā ā and launched the most sweeping US tariff regime in a century.
š 10% ābaselineā tariff on all countries
š Higher levies on ābad actorsā like China (34%), Vietnam (46%), and Japan (24%)
š 25% auto tariff on all foreign-made vehicles starting tomorrow
š Secondary tariffs on any country buying oil from Venezuela
The effective US tariff rate? North of 25% ā the highest since the Smoot-Hawley Act of 1930.
š£ Fallout So Far:
Big Tech is bleeding: Apple dropped 7% in after-hours, with analysts slashing price targets on fears of cost spikes and margin compression. NVDA, AMZN, TSLA also hit hard.
Supply chain chaos inbound: Tariffs on Asian manufacturing hubs are a direct hit to hardware and semis. iPhones, GPUs, EVs = all getting pricier.
Consumer wallet watch: Yale Budget Lab warns of $3,400ā$4,200 in lost household purchasing power from tariffs.
Gold surges: Investors fleeing to safety. Gold hit $3,171 ā marking its strongest quarter since 1986.
GDP warning bells: Atlanta Fed GDPNow: -3.7% Q1 growth. Economists say weāre entering stagflation territory.
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