‘Great time to get rich,’ says Trump as markets set for crash course on second straight day | World News
As US stock market headed for another day of sharp declines, President Donald Trump on Friday wooed investors in a post on his social media platform Truth Social. Trump wrote that it was “a great time to get rich”, adding that his policies will ‘never change’, a few hours after China retaliated with tariffs on US goods.
Taking to Truth Social, President Trump posted: “To the many investors coming into the United States and investing massive amounts of money, my policies will never change. This is a great time to get rich, richer than ever before!!!”
The US President made the comments a day after all three major US indices saw their worst day since 2020 on Thursday, threatening to throw the global economy into recession.
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On Friday, Dow Jones Industrial Average futures dropped 1,200 points, or 3 per cent, indicating a potential 1,500-point plunge when markets open, following Thursday’s steep 1,679-point decline.
S&P 500 futures also fell 3 per cent after the index shed 4.84 per cent the previous day, while Nasdaq 100 futures declined 2.6 per cent as tech companies, many with significant exposure to China, came under pressure.
Additionally, China’s commerce minry said Friday the country will impose a 34 per cent levy on all US products.
On Wednesday, Trump announced a 10 per cent baseline tariff on all goods imported into the US and even higher tariffs on several others. The harder-hit trading partners include China and the European Union, which face new duties of 34 per cent and 20 per cent, respectively.
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