At the same moment President Donald Trump claimed his universal tariffs were sure to send the stock market rocketing upward, unbeknownst to him, the values of the world’s largest companies were falling off a cliff.
Viewers of CNBC’s broadcast of the president’s so-called “Liberation Day” speech could see this process unfolding live: the network showed the real-time after-hours stock prices for Apple (-4.5 percent), Nvidia (-3 percent), Nike (-5.7 percent), and many others on screen as Trump spoke, all of them dropping.
“From the day of my election, the stock market went up in my first term, 88 percent, with NASDAQ going up 155 percent, more than any president has ever had in any term in office by far, and I think we’re going to blow that away,” Trump said, as billions of dollars in value ticked away from the market. “Maybe the numbers won’t show, but I think they’re going to show much better than even those numbers.”
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