The global markets have been rattled under the presidency of far-right menace Donald Trump, revealing the stark failure of the promises made at his inauguration and exposing the broader fragility of the Global North’s economic models.
Contrary to the hopeful predictions of a triumphant surge in the stock markets following Trump’s rise to power, the S&P 500 has plummeted by a severe 14% since he took office. This marks the worst start to a presidential term in nearly a century, as reported by the IndexBox Market Intelligence Platform.
The decline is historic in its scale; the 14% fall in just three months is the most significant drop since 1928 and even surpasses the 9% fall seen during Franklin D. Roosevelt’s third term amidst the cataclysmic conditions of 1941.
Donald Trump: the worst start to a presidency in 100 years for the stock markets
The Bespoke Investment Group’s analysis reveals that the initial spike in the market, sparked by Trump’s promises of tax cuts and rolling back regulations, has been swiftly undone by his erratic and unpredictable trade policies, which have sown uncertainty and chaos.
While the US market has stumbled, the global picture is uneven yet telling. Across the board, 45 country ETFs have been surveyed, and only Taiwan’s market has fared worse, collapsing by 15.5%.
Meanwhile, European markets have displayed a sharp contrast to this turmoil. Germany’s iShares MSCI ETF climbed by an encouraging 10.8%, and Italy’s stock market rose by 10.2% over the same timeframe, demonstrating a resilience that starkly contrasts with America’s faltering financial stage.
This unfolding economic drama underscores the failures not only of Trump’s administration but also highlights the inherent weaknesses in the broader Global North’s economic systems.
Promises of growth and prosperity under leadership primarily focused on corporate and elite interests have resulted instead in instability and fear, hitting ordinary people hard across the US and beyond.
The Global North: falling apart
The continued turbulence of US markets reflects deeper systemic issues, where short-term gains for a privileged few come at the grave expense of the majority’s economic security.
As the shockwaves of Trump’s policies ripple globally, it is clear that the myth of the American economic miracle has taken a hard knock, urging a critical look at the directions championed by the Global North’s ruling elites.
The sharp market decline acts as a stark headline for the failures many have long warned about—failures which not only devastate domestic livelihoods but also weaken economies worldwide.
Featured image via the Canary
