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%.
. . .
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.
Buy it with what? Billionaires don’t hold money, their valuation is all in stock value.
I think you’re giving them too much credit. Never attribute to malice that which can be explained by incompetence.
https://www.cbsnews.com/news/billionaire-wealth-covid-pandemic-12-trillion-jeff-bezos-wealth-tax/
Lol billionaires absolutely have cash too.
It’s beneficial to keep most of it in stocks, sure, but they also get dividends, which can be used to buy more assets, or kept in waiting for a market downturn to buy even more assets.
Errm https://www.fool.com/investing/2025/03/21/warren-buffett-334-billion-cash-invest-philosophy/