It was hard for me all morning, not to mull over all the turmoil in the US financial markets, and to wonder how this man-made descent into insanity will end.
What the hell? Apple will suddenly start building iPhone factories in the United States— so that Americans will gleefully pay $3,500 for an iPhone?
A good March US jobs report (+ 228,000 jobs, unemployment 4.2%) was eclipsed by ..
.. Dow Jones down another 5.5%, S&P 500 down another 6%, Nasdaq down another 6% today.
At this rate, it has to be 100% certain that there will be a recession in the United States later this year (and sooner than anyone had thought).
In case it’s not easy to tell, let me tell you: these are all very bad headlines.
Tesla (TSLA) is down another 10.5% for the day. ‘Unprecedented brand damage’ (by Elon Musk) writes JPMorgan Chase & Co analyst Ryan Brinkman in his downgrade of the stock.
Bigger picture, I would say America is suffering (another) round of ‘unprecedented brand damage’ around the world.