News for hackers. Stuff that matters.
Re:Nasdaq plummets 4% into correction territory by jiggawatts on Thursday November 05, 2026 @03:03PM (#50383737)
I’m surprised his tariffs didn’t have a bigger impact, I fully expected them to crater the US economy.
Re:Nasdaq plummets 4% into correction territory by mandeepj on Thursday November 05, 2026 @03:13PM (#50383870)
The economy toppled the regime; At least, what Red leaders are saying. You are missing out.

https://x.com/JeffFlake/status/2118355575356727470

https://x.com/tedcruz/status/2118125881067487633

Re:Nasdaq plummets 4% into correction territory by SoftTalker on Thursday November 05, 2026 @03:14PM (#50383883)
Always does. They forgot the organizing principle of Bill Clinton's campaign: It's the economy, stupid!
Re:Nasdaq plummets 4% into correction territory by smallmancontrov on Thursday November 05, 2026 @03:59PM (#50384386)
Two big things changed since the econ-101 received wisdom on tariffs was developed:

1. The US went from net-exporter to net-importer (so: reciprocal and cascading retaliation was not possible on nearly the same scale)

2. Durable goods deflated until they were a small part of the economy

That's why the reaction this time around was a "buy the dip" and not another great depression (although the great depression itself was exceptional, countries successfully wield protectionism all the time, see China). Unfortunately, tariffs are only one component of functional industrial policy. Imagine you are considering investing in a factory: you don't just need protected outputs, you need cheap inputs, available capital, and above all enough stability to reasonably expect to see your returns before one of those pillars gets yanked. Trump got halfway to step 1, so he inflicted most of the damage without even buying a reasonable chance of success. But yes, at least the damage was relatively small, although "he followed it up with Iran which was much worse" isn't much of a consolation.

Re:Nasdaq plummets 4% into correction territory by jpadkins on Thursday November 05, 2026 @04:11PM (#50384499)
is it possible you were mislead?
Re:Nasdaq plummets 4% into correction territory by UltraSane on Thursday November 05, 2026 @04:34PM (#50384759)
They were basically just a national sales tax.
Re:Nasdaq plummets 4% into correction territory by sagarm on Friday November 06, 2026 @01:57AM (#50389058)
Nope, because it was also a tax on inputs. Worse, supply chains that crossed the border multiple times would be taxed multiple times. The chaos also made it impossible to plan.
Re:Nasdaq plummets 4% into correction territory by selectodude on Thursday November 05, 2026 @04:45PM (#50384896)
The American consumer might be the most resilient thing on the planet. Blows my mind but there you have it.