Squawk on the Street Sell-Off Deepens, China Retaliates Against the U.S. With Tariffs, Labor Sec. on Jobs Report 4/4/25
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Apr 4, 2025 Eunice Yun, a CNBC correspondent based in Beijing, discusses the significant impact of China imposing 34% tariffs on U.S. goods. The conversation delves into the broader economic ramifications for American businesses during this turbulent market. Jim Cramer shares insights on the implications of President Trump's tariff strategies, while Labor Secretary Lori Chavez-DeRemer provides context on job creation amid these challenges. The discussion highlights the need for government intervention and careful decision-making in navigating this complex trade landscape.
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Trade War Impact
- The U.S. imposing tariffs on goods and China retaliating creates a tit-for-tat environment.
- This trade war negatively impacts American companies like DuPont, affecting their business operations.
1987 Black Monday
- Jim Cramer shared his experience during the 1987 Black Monday crash, where the Dow Jones fell significantly.
- He warns against prematurely buying stocks during market downturns, as further losses can follow.
Avoid Bottom-Fishing
- Don't bottom-fish stocks after a significant market decline, as further losses could occur.
- Jim Cramer advises waiting for confirmation of a market reversal before investing.