Tesla's moment of truth, Trump Media stock spikes, and Warren Buffett wins again: Markets news roundup
Plus, From Ray Dalio to Bill Ackman, billionaires and CEOs sound off on Trump’s tariff pause
Tesla $TSLA (TSLA) stock was falling yet again Monday, down more than 3% in morning trading as markets headed for another brutal day in the wake of President Donald Trump’s sweeping tariffs.
Amid early market turmoil on Wednesday, shares of Trump Media spiked 8%.
President Donald Trump posted on his social media site, Truth Social, on Wednesday morning: “This is a great time to buy!!! DJT.” DJT is both the stock ticker for Trump Media and Technology Group (DJT) and the president’s initials.
The roller-coaster week for global stock markets took another sharp turn Thursday, yanking Nvidia $NVDA (NVDA), Apple $AAPL (AAPL), Amazon $AMZN (AMZN), and other Big Tech stocks down with it.
Stocks closed sharply down on Thursday as investors digested a wave of economic uncertainty, including tariff tensions, inflation data, and a string of downbeat corporate signals. The Nasdaq $NDAQ sank 4.3%, while the S&P 500 dropped 3.5% and the Dow fell 2.5%. The Russell 2000 Index, a benchmark for small-cap stocks, slid 4%.
U.S. market indexes shot up Wednesday afternoon after President Donald Trump announced a 90-day pause on tariffs for most countries.
“Based on the fact that more than 75 Countries have called Representatives of the United States” to negotiate the tariffs, Trump posted on his Truth Social platform, “I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10% ... effective immediately.”
Americans are worried about their finances right now as they watch their 401Ks plummet, fear an impending recession, and are unsure if tariffs are going to make a dent in their finances.
For his next venture, Warren Buffett might consider selling a crystal ball.
Buffett, the billionaire chairman and CEO of holding company Berkshire Hathaway $BRK.B (BRK.A) known as the “Oracle $ORCL of Omaha,” has made another move that makes it look like he can see into the future. For the past two years, his company has been stockpiling cash and selling stocks, meaning Berkshire remains in strong financial shape as the rest of the market is in tumult as a result of President Donald Trump’s tariffs.
President Donald Trump’s announcement Wednesday that he would pause his sweeping, universal tariffs on almost all countries for 90 days sent shockwaves through the business world and the markets. China remains heavily tariffed: White House officials confirmed Thursday that the effective U.S. tariff rate on Chinese imports is now 145%.
U.S. consumers should brace for punishing price increases as President Donald Trump’s trade war heats up, especially as tariffs on imports from China ripple through supply chains.