Summary
Fox News openly blamed Donald Trump for Monday’s stock market crash, with the Dow dropping 890 points and the S&P 500 falling 2.7%.
The Dow is now 1,500 points below where it was when Trump took office. Analysts cite his chaotic messaging and steep tariffs on key trading partners as driving investor uncertainty.
Trump refused to predict a recession, calling it a “transition,” while his officials gave conflicting reassurances.
Treasury Secretary Scott Bessent warned of a “detox period,” further fueling market fears.
The rich are far, far more savvy at investing than that. The rich made a fuckton yesterday by selling VIX, writing calls, and generally just doing what people who already own everything do.
This hurts 401(k)s and investments owned by normal people. The rich will be fine.