Wall Street took a major blow this week as global investors pulled back from U.S. markets, rattled by mounting concerns over President Donald Trump’s (R) trade war and his public attacks on the Federal Reserve.
The S&P 500 plunged 2.4%, pushing the index 16% below its record high from just two months ago, which is a significant blow to millions of Americans whose retirement savings are tied to the market. The Dow Jones Industrial Average fell 971 points, or 2.5%, while steep losses from tech giants Nvidia and Tesla dragged the Nasdaq down 2.6%.
Amid the economic turmoil, Texas Rep. Jasmine Crockett (D) took to social media to criticize the president's economic leadership, calling out what she argues is a pattern of deception and mismanagement.
Trump promised to make everyday items more affordable and strengthen the economy. But let’s look at the reality: even government bonds aren’t safe anymore. That’s how shaky the economy has become under Trump’s leadership. 🧵 (1/3) https://t.co/wKwSYJ3MT3
— Congresswoman Jasmine Crockett (@RepJasmine) April 21, 2025
“Trump promised to make everyday items more affordable and strengthen the economy,” she wrote on X. “But let’s look at the reality: even government bonds aren’t safe anymore. That’s how shaky the economy has become under Trump’s leadership.”
“Why? Because he never cared about affordability. He cared about saying what he needed to win. Now that he’s in power, his only goal is to consolidate that power – no matter the cost to everyday Americans,” she continued
“Let’s be very, very clear: this isn’t a golden age for the people. It’s a golden age for Trump and his cronies. Everyone else? You’re footing the bill for their greed.”
The market drop shows growing investor anxiety about the long-term consequences of the trade war and erratic policy signals. Analysts warn that continued economic uncertainty could further shake consumer confidence and prolong market instability as businesses ready themselves for unpredictable shifts in global commerce.
Though President Trump has focused his trade arguments on China, analysts argue that his stiff approach could usher in a recession.
on Truth Social, the president expressed that “The golden rule of negotiating and success: He who has the gold makes the rules."
“The businessmen who criticize tariffs are bad at business, but really bad at politics."
