Trump Blames Biden For Dow Crash Of 648 Points (Psst: It’s the Tariffs)

If this isn’t the dumbest move in American politics, it most assuredly ranks up there in the top five. As you heard, Donald Trump announced that tariffs of 25% were to be implemented against Canada and Mexico, our good neighbors. Or, our former good neighbors, they are now our disgusted co-occupants of the North American continent. The markets began to tumble immediately. This would be a bad move on any day but on the day before the State Of The Union address, it is catastrophic. Trump, oblivious, posted on Truth Social “I’LL TELL IT LIKE IT IS!” Let’s see if he starts talking about lost retirement savings and the impending recession/depression, because that is telling it like it is.

Never underestimate Donald Trump’s ability to ruin something very quickly. Trump apparently views his national address before a joint session of Congress as his big theater moment, so on Monday he told reporters that tariffs on Mexico and Canada would begin on Tuesday.

Trump said at the White House, “Tomorrow — tariffs 25% on Canada and 25% on Mexico. And that’ll start. They’re going to have to have a tariff.”

The president said that there was no room for delay, and his comments took what had been a positive stock market day and pushed it deeply into the negative.

CNBC reported:

The S&P 500 fell 2.1%, bringing its year-to-date performance to a loss of nearly 1%. The Dow Jones Industrial Average dropped 789 points, or 1.8%. The Nasdaq Composite slid 3%, weighed down by Nvidia’s decline of more than 9%.

All three indexes traded higher earlier in the session, with the Dow at one point up nearly 200 points. Stocks took a notable leg down in afternoon trading following Trump’s reiteration that 25% levies on imports from Mexico and Canada would go into effect on Tuesday, dashing investors’ hopes of a last-minute deal to avert the full tariffs on the two U.S. allies.

The Dow closed down more than 648 points after Trump’s comments, and bigger losses could be expected on Tuesday if the tariffs go into place.

There is no doubt that Donald Trump’s comments and his dumb tariff plan caused the market to fall.

Trump is going to stand before the nation and the world and claim that things are great while the economy is struggling, the stock market is dropping, and America is losing its place in the world.

The stock market crash before Trump addresses the country fits this train wreck presidency.

To call it a train wreck may be to underplay it. It’s starting to look more like an atomic bomb, both economic and cultural.

Trump 2.0 is officially a Trainwreck and even Maga is revolting all across the country. Trump knows this, and is going to lose his shit very soon and dbl down on blaming canada, mexico, europe, wall street, fox news, ukraine, and maddow.

— Groucho Marxist (@Richard89220241) March 3, 2025

And they’re already blaming Joe Biden. Yes. Larry Kudlow was on Fox News and he claimed that it was all Joe’s fault. Joe left office six weeks ago and Trump announced the tariffs today. But the gameplan is obvious: Blame Biden for everything and hope that pro-Trump pundits on Fox News can make it stick. As stupid as the American electorate has proven itself to be, I do believe that even MAGAs are going to blame the guy who’s actually in power and not his predecessor. But I guess we’re going to find out.

“Yeah … they drop tariffs for no reason whatsoever and the market collapses but it’s the guy who left a month and a half ago,” wrote political strategist and VoteVets podcaster Fred Wellman. “What a jacka—.”

“WATCH: As the stock market drops because of Trump’s tariffs and trade war, Larry Kudlow & Fox hilariously try to blame ‘the Biden Economy’ (and use it to push for tax cuts for the rich and deregulation, as always),” wrote progressive social media account The Tennessee Holler.

“What’s left of the Biden economy is slumping right now,” Kudlow told White House Press Secretary Karoline Leavitt, who replied, “Truly, this administration is working around the clock to bring down the cost of living for the American people.”

Well, there you heard it from Kakistocracy Karoline and Lying Larry, the Trump version of Hanoi Hannah and Bagdad Bob. I don’t know what we did as Americans to be living in Hell while still alive, but here we are. And if this isn’t Hell, it will do until the real thing comes along.

***********

Friends, if you’re able to help with a donation or a subscription, we would appreciate it. Since November 5 there has been an industry-wide recession as TV viewers and readers tune out en masse. And readers will return as we make plans to take back Congress in 2026 and stonewall this madness. Thank you. Ursula

Support the site with a subscription today and see no more ads!

Go Ad-free Now!