flash on Nostr: ⚡️📉 NEWS - Stocks fell sharply on Monday as last week’s selling pressures ...
⚡️📉 NEWS - Stocks fell sharply on Monday as last week’s selling pressures continued. Investors are concerned about a potential economic slowdown after President Trump declined to rule out a recession amid new U.S. tariffs.
The Dow Jones Industrial Average fell 2.1%, while the S&P 500 dropped 2.6%, and the Nasdaq Composite declined 4%. Both the S&P 500 and the tech-heavy Nasdaq reached their lowest levels since September 2024.
🗣️ Yanis Varoufakis, former Greek finance minister, sees Trump’s tariffs as part of a risky plan to devalue the US dollar to boost exports and bring manufacturing back, while maintaining the dollar’s global dominance. He suggests Trump might encourage a shift of foreign dollar reserves into cryptocurrencies, particularly stablecoins backed by the dollar, to achieve this without empowering rival currencies like the euro or yuan.
The Dow Jones Industrial Average fell 2.1%, while the S&P 500 dropped 2.6%, and the Nasdaq Composite declined 4%. Both the S&P 500 and the tech-heavy Nasdaq reached their lowest levels since September 2024.
🗣️ Yanis Varoufakis, former Greek finance minister, sees Trump’s tariffs as part of a risky plan to devalue the US dollar to boost exports and bring manufacturing back, while maintaining the dollar’s global dominance. He suggests Trump might encourage a shift of foreign dollar reserves into cryptocurrencies, particularly stablecoins backed by the dollar, to achieve this without empowering rival currencies like the euro or yuan.