Summary
Despite Trump’s 2024 warnings of a market crash under Biden, the S&P 500 is experiencing its worst start to a presidential term in modern history under him, dropping ~15% since Inauguration Day.
This plunge, largely attributed to Trump’s aggressive tariff policies announced post-election (“Liberation Day”), is pushing the market toward bear territory faster than any predecessor since 1957.
The Nasdaq is already in a bear market, and economists increasingly warn the tariffs could trigger a recession impacting widespread stock ownership.
Already, I see Bullshit Mountain prepping them for their black Nikes, their nut-cutting and their magic drink to ride the comet, er, I mean, telling them that money doesn’t really matter and you don’t care about your retirement accounts, guys! I saw Benny Johnson saying it’s no big deal to lose money, how much money did you lose when you were young and dumb, you guys!