Economic uncertainties over President Donald Trump’s sweeping tariffs sparked a second straight day of the markets continuing to plunge amid fears that the tariffs could unleash a global trade war and cause a recession.
The damage resulted in historic lows in the Dow Jones Industrial Average, which dropped 2,200 as the stock market closed on Friday, while the S&P 500 lost 10% in two days, CNBC reported. The grim news comes as China responded to Trump’s trade war threats with its own retaliatory tariffs on U.S. goods.
The two-day market pounding following Trump’s “liberation day” Rose Garden announcement sent critics sounding the alarm on Friday.
“Dow closes down more than 2,000 points, or 5.5%. Bloodbath,” former New York Daily News journalist Helen Kennedy wrote on Bluesky.
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“It appears this is the fourth worst back to back day for the DJIA in American history with a two day combined -8.65% loss, only trailing the 1929 crash, 1987 Black Monday, and the 2008 financial crisis,” Democratic pollster Matt McDermott posted on X.
“The Donald J. Trump Stock Market Crash,” Conservative never-Trump attorney George Conway added on X.
“The Dow closed down 2,200 points on Friday and the S&P 500 and Nasdaq lost nearly 6%, as markets continue to reject Trump’s reckless economic policies,” Keith Boykin, a Democratic strategist, told his followers on Bluesky.
Democratic operative, Mike Nellis, portrayed Trump as being out of touch with the average American consumer, concluding: “Regular people can’t afford his tax increase.”
“Trump has never bought his own groceries,” Nellis wrote on X. “I guarantee you he couldn’t tell you the price of milk right now. He doesn’t know how many people are living paycheck to paycheck—struggling to put food on the table.”
Former Republican strategist Mike Madrid responded to the reports on X with a single word: "Wow!"