President Trump shared a video on social media claiming he is intentionally crashing the stock market. The video suggests this is a strategic move to benefit the middle class and weaken the dollar. However, this assertion lacks credible evidence and contradicts statements made by experts and even some of Trump's allies.
Economists warn that Trump's tariff policies are increasing the risk of a global recession, impacting the retirement savings of working-class Americans. Prominent figures like Warren Buffett have criticized the tariffs, calling them an "act of war." J.P. Morgan Chase has raised its global recession risk indicator to 60%.
Several close Trump allies and former administration officials expressed confusion and concern regarding Trump's promotion of the market-crashing claim. They did not defend his actions and many stated they had no comment or were at a loss for words to explain it. A wealthy Trump donor expressed concern through multiple crying emojis.
While the video claims the tariffs are a strategic move, other sources suggest the tariffs were implemented not based on careful economic calculations, but primarily for their shock value and to create leverage in trade negotiations.