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📉 Markets Slide as Trump Blames Biden Amid GDP Contraction and Tariff Turmoil
U.S. markets experienced significant declines following the release of Q1 2025 GDP data, which showed a 0.3% contraction—the first since 2022. The downturn was largely attributed to a 41.3% surge in imports, as businesses accelerated purchases ahead of President Trump's new tariffs, leading to a record trade gap.
Despite these developments, President Trump attributed the economic slowdown and market declines to the residual effects of former President Biden's policies, stating, "This is Biden’s Stock Market, not Trump’s."
Market reactions were swift: the Dow Jones Industrial Average dropped over 700 points, with the S&P 500 and Nasdaq also recording substantial losses. Economists express concerns over potential stagflation, citing rising inflation and declining activity.
For investors, these developments underscore the importance of monitoring policy changes and their potential impacts on market dynamics.