Wall St falls as Trump tariff threats spark market uncertainty
Fri May 23, 2025 6:19 PM
Maybe it’s just because it’s a major holiday weekend but I had to go through about six market summary reports to find one that actually said something, let alone give me some actual data. This was quite surprising considering how badly the session went today. It might all be summed up by the famous movie slogan, “Just when you thought it was safe to go back in the water,” but translated to the markets, “Just when you thought all the tariff jitters were over.” This morning Trump announced some major new tariffs including 50% on the EU and 25% on Apple phones made outside the U.S., of which almost all are.
The markets all took a major dive, the Dow down 800 right out
the gate and the Nasdaq and S&P suffering equally substantial losses. The
good news is that they all started an almost immediate recovery to close with
far fewer losses but still in the 3-digits. Anyway, the tariff calm seems to
have ended today, the dollar sank 1%, the chip index fell 1.5%, all three
indexes fell 2.5% or more for the week, Apple fell 3% and the VIX went up 10%. Today’s
expert summed it up, “If I were to put a headline on today’s story, it would be
Here We Go Again!” It is estimated it will be months at least before this
tariff business is settled so we’re in for a long ride of day-by-day uncertainty.
At 17.67 billion, volume was very much in line with the recent average of 17.73
billion.
DJ: 41,859.09 -1.35 NAS: 18,925.74
+53.09 S&P: 5,842.01
-2.60 5/22
DJ: 41,603.07 -256.02 NAS: 18,737.21
-188.53 S&P: 5,802.82
-39.19 5/23
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