Morning Jolt: Trump Salvos Bring On Market Meltdown

WITH JIM GERAGHTY

March 11 2025

Trump Salvos Bring On Market Meltdown

On the menu today: Yes, it's easy to overestimate the impact of the Dow Jones Industrial Average, the Standard and Poors' 500, and the NASQAQ, and the stock market is no stranger to volatility. But the cumulative effect of the Trump tariffs, the overall uncertainty and erraticism in the president's trade policies, and some loose talk about the possibility of a recession all added up to a market meltdown on Monday. Trump team members like Kevin Hassett insist this is all just a temporary blip and a hangover from bad Biden policies; meanwhile Larry Summers, the Cassandra of Joe Biden's inflation and cost of living woes, warns that we're nearly 50-50 for a recession, almost entirely because of self-inflicted wounds. Read on — and try not to check your investments for a little while.

On Tariffs and Market Uncertainty, 'We're Getting the Worst of Both Worlds'

You probably don't want to check your 401(k) this morning.

There's this perception in some corners of the new Right, echoing the thinking of the old Left, that the stock market is only a concern for people who look like the little top-hat-wearing guy from Monopoly. That perception ...