US stocks were sharply lower Friday as investors digested souring consumer sentiment and inflation data that showed an uptick in one of the Federal Reserve’s key gauges, underscoring the delicate state of the economy as businesses brace for President Donald Trump’s tariffs.
The Dow tumbled 750 points, or 1.77%, on Friday. The broader S&P 500 fell 2.1% and the Nasdaq Composite slid 2.8%.
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Wall Street was also grappling with Trump’s announcement on Wednesday of 25% tariffs on all cars shipped into the US, set to go into effect April 3. Trump also announced tariffs on car parts like engines and transmissions, set to take effect “no later than May 3,” according to the proclamation he signed.
False. They take out special loans only available to billionaires at less than 1% interest. They use their stock as collateral. They never pay back these loans because they don’t want to sell their stock and pay taxes in order to repay them. The banks don’t mind because they know they’re good for it. They keep doing this over and over. Their long term plan is when they die their estate will pay off their debt. That’s the recipe they use to pay zero taxes.