MSNBC's Rachel Maddow delivered a stark warning to her viewers on Wednesday night as she ripped into President Donald Trump for “his panicked U-turn on tariffs.”
“For all his famed and supposed attention to the stock market, I got to tell you, Donald Trump has been very happy to preside over huge off-the-cliff plunges in the stock market repeatedly,” Maddow said. “In fact, in history, if you look at the Dow Jones, if you look at the 10 largest single-day point drops in the Dow in history, of the 10 worst point drops ever on the Dow, Donald Trump was the president for nine of those 10 days.”
But the MSNBC host flagged what changed in the country’s economic markets that she said undoubtedly influenced Trump to issue a 90-day pause in most of the tariffs he unleashed just days ago to shocked global traders.
“So yes, the stock market stuff under Trump has been scary, but if the bond market blows up, say goodbye to the U.S. economy,” Maddow said Wednesday. “And today, what happened is, the bond market started blowing up. When that happened at the opening of the bond markets today, that's apparently what turned things around. That's how we discovered this lovely cave that Donald Trump led us into today on his tariff policy.”
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The primetime host added that while the stock market “tanked” as the day opened with the tariffs still in place, that was “normal for a day with Donald Trump at the wheel."
But Maddow said the potential collapse of the bond market was more significant.
“The bond market falling apart is a much bigger deal than the stock market falling apart in terms of the fundamentals of who we are in the world and how our money and our economy works,” Maddow said. “Because the stability of the U.S. bond market is what we depend on, essentially, for the spine of our economy, everything from mortgage rates in the housing market to the integrity of our multi-trillion dollar national debt.”
