It’s the first Monday after Donald Trump started implementing his so-called “reciprocal tariffs” and the markets are seeing red. At the time of writing the S&P 500, Dow, and Nasdaq are all down around four percent with the latter taking the hardest hit. And that’s on top of the S&P 500’s 10 percent fall last week. Things can still change quickly, and it’s up to historians to decide what to call Trump’s decision to push the economy off a cliff when they write their history books, but Wikipedia editors, who are arguably writing one of the first drafts of history, have already called it the “2025 stock market crash.”
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