Markets Crashed, Prices Rose — And People Took to the Streets
5mins read: Trump’s tariffs rattled Wall Street, fractured trade ties, and ignited a wave of protests. What started as economic policy may be morphing into something much larger.
Hey Small Biters,
We knew the tariffs would hit.
What we didn’t know was how fast the backlash would move — from the markets to the streets.
Last week, President Trump declared a sweeping new economic doctrine with the rollout of “Liberation Day,” a tariff policy that slapped massive import taxes on everything from Chinese goods to European steel. Wall Street fell hard. The Dow dropped. Tech stocks tumbled. And $10 trillion evaporated — just… vanished.
But what makes this moment different isn’t just the market correction. It’s the sound that followed. Not silence. Not applause. But chants.
Across cities — New York, Portland, Atlanta, Detroit — protestors have begun gathering, some with signs about inflation, others about foreign policy. But the sentiment is unified: this economic pain isn’t abstract. It’s personal. It’s at the checkout counter, in the shrinking 401(k), in the mortgage payment that now feels like a mistake.
A widespread demonstrations are depicted across various U.S. cities. Protesters are voicing their opposition to recent policies implemented by the Trump administration. The protests underscore a growing public concern over the direction of current governmental policies and their impact on everyday Americans.
Meanwhile, Wall Street is still reeling. What began as cautious optimism turned into panic as the scale of the tariffs became clear. Major indexes plunged. Tech, reliant on global supply chains, was hit especially hard. The losses weren’t just numbers — they were pension funds, retirement accounts, savings for first homes.
Investors were told to stay calm. But calm is hard to maintain when policymakers describe a $10 trillion loss as a “correction,” while others (with straight faces) claim:
“Losing money costs you nothing. Everyone loses money. It builds character.”
This, from the same crowd that once said Biden’s inflation would end civilization.
But beneath the economic headlines is a deeper story about political timing.
These tariffs weren’t just policy — they were a campaign message. A signal flare. A reminder to Trump’s base that he’s still willing to “fight globalism,” even if the cost is… well, you. But the backlash is bipartisan. Conservatives in swing states are nervous. Independents are anxious. And working-class voters, once wooed by “America First” promises, are beginning to do the math.
The thing about economic nationalism is that it always starts with applause — and ends with receipts.
🖋️
They called it strength, as shelves ran bare.
They raised a flag, then taxed the air.
The numbers dropped, the signs went up—
and suddenly we’d had enough.
🧭 A Small Bite to Carry
Markets can recover. Trust takes longer.
Tariffs may look like strategy, but they land like punishment.
This weekend, the streets spoke louder than the screens.
US Stocks
US stocks crumble on Friday to end worst week since 2020
There was no reprieve from Thursday’s massive sell-off, as Friday saw even larger declines for the S&P 500. The benchmark US stock index fell 6%, the Nasdaq 100 dropped 6.1%, and the Russell 2000 slumped 4.4% on the day.
The US no longer has any $3 trillion companies, as AppleAAPL $186.60 (-7.29%) fell out of that cohort with today’s retreat.
China ratcheted up the trade war by unveiling retaliatory tariffs on US goods, weighing on US companies with big exposure to the world’s second-largest economy. OPEC+’s plans to return even more oil to global markets in May, coupled with the demand shock from tariffs, sent the likes of ExxonXOM $105.00 (-7.20%), ChevronCVX $143.11 (-8.29%), and ConocoPhillipsCOP $86.29 (-9.43%) reeling.
The dealmaking and IPO pipeline is running dry in light of market conditions, with Klarna pausing its plans to go public. Bank stocks like JPMorganJPM $210.28 (-7.49%), Bank of AmericaBAC $34.15 (-7.70%), Wells FargoWFC $60.94 (-7.24%), Goldman SachsGS $466.95 (-8.04%), and Morgan StanleyMS $99.15 (-7.50%) were all throttled and underperformed the broad market.
What Else Are We Biting
Oil prices hit multiyear low as supply surge and demand fears slam energy stocks.
White House reportedly blames auto-suggested iPhone contact for Signal scandal.
Trump's Tariffs Are Brutalizing the Crypto Industry.
Biting Fact Of The Day
Trump's Tariffs Are Brutalizing the Crypto Industry
Across cities — New York, Portland, Atlanta, Detroit — protestors have begun gathering, some with signs about inflation, others about foreign policy. But the sentiment is unified: this economic pain isn’t abstract. It’s personal.