• billwashere@lemmy.worldEnglish
      98·
      9 months ago

      Oh he had a reason.

      Donald Trump posted on his social media platform Truth Social that “THIS IS A GREAT TIME TO BUY!!!” at 9:37 a.m. on Wednesday, just hours before announcing a 90-day pause on most tariffs, which significantly boosted the stock market.

      The fucker is insider trading in fucking broad daylight. This is like the most blatant market manipulation I’ve ever seen.

      • PolarKraken@sh.itjust.works
        29·
        9 months ago

        I called this shit from the beginning, that the tariff bullshit was just a legit-seeming way to make the market do stuff he could easily predict (by directly causing). Didn’t realize he was literally communicating, nakedly, when to buy and sell though. Fucking WILD. And I promise before long he uses that exact mechanism to do the opposite thing and fuck all the folks who get used to listening to such announcements.

        And nothing will be done. Stock market itself is such a fuckin scam, and I say that as a dude with a 401k.

        Edit: actually, to add, one thing I didn’t notice initially is that these naked manipulations, with some ability for randos to profit too during the ride, that really has the Musk stink all over it. Same shit he’s gotten away with often, just now with the goddamn US President as the mouthpiece, scamcoins and all. Truly bananas, where we’re at.

    • Saleh@feddit.org
      20·
      9 months ago

      Dow Jones is still up 2.95% by the year. We are now around the level of mid-August 2024. So most that has been lost now involves at least some level of speculation on the outcome of the US election 2024.

      We need to stop worshiping the markets and reduce the size of the financial industry relative to the real economy. They don’t represent the reality for normal people and the financial industry is long past the point of being beneficial for efficient capital distribution. It is just parasites leeching the blood out of the real economy.

    • Donkter@lemmy.world
      11·
      9 months ago

      What the markets going down, then up, then down over and over indicates is that it’s not just a bad market, it’s a volatile one. That’s even worse for businesses because it means the market is unpredictable, which is worse than just being bad or good when making plans for the future.

      • Wilco@lemm.eeEnglish
        3·
        9 months ago

        What is even worse is that the market is in fact NOT unpredictable. We have a criminal traitor doing some insider trading and letting his friends know when he is going to shut tariffs on and off.

  • DaddleDew@lemmy.world
    40·
    9 months ago

    Because investors are bailing out and won’t touch the US market with a 10 foot pole as long as consistency and the rule of law don’t prevail in the US political system. And that ain’t gonna happen with Trump in office.

    • 4am@lemm.ee
      44·
      9 months ago

      Pump and dump. He tweeted out “BUY NOW” like 10 minutes before he announced revocation of the tariffs. Everyone got in low, and rode the wave high, and now they’re cashing out again now that it plateaued.

      It’s SO blatantly obvious.

      • DragonTypeWyvern@midwest.social
        1·
        9 months ago

        Stop saying this, it’s embarrassing us in front of the finance bros, this is literally the opposite of a pump and dump

        It’s called a trash/crash and cash when you’re looking to buy cheap stock. Or a poop and scoop if you’re a gross weirdo.

        If you’re not sure, or just think the naming conventions are lame, just go with the generic market manipulation