The Daily
How Trump Wiped Out $10 Trillion in Wealth in 3 Days
Apr 8, 2025
Andrew Ross Sorkin, a renowned columnist and the editor-at-large of DealBook, joins Jonathan Swan, White House reporter for The New York Times. They dive into the tumult of the stock market following Trump's aggressive tariffs, which have erased trillions in wealth. The discussion reveals how CEOs are grappling with swift economic changes and the growing dissent among business leaders. They also analyze the unpredictable nature of Trump’s policies and the impact on corporate strategies, raising questions about long-term economic stability.
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Quick takeaways
- President Trump's universal tariffs have led to a $10 trillion reduction in global corporate value, sparking fears across multiple sectors.
- The uncertainty surrounding tariffs is causing executives to hesitate in making long-term investments, ultimately stifling economic growth and recovery.
Deep dives
Impact of Tariffs on Market Value
The recent imposition of universal tariffs by President Trump has had a devastating effect on global stock markets, erasing trillions of dollars in corporate value. Specifically, the stock prices of major companies, like Apple, have plummeted, resulting in significant financial losses. Apple's decision to manufacture in countries like China, Vietnam, and India now puts them at risk of hefty tariffs, affecting their pricing and profitability. This uncertainty leads to a cascading effect, where reduced consumer demand and profits prompt investors to sell shares, further driving down stock prices.
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