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@ FLASH⚡️
2025-03-10 21:40:36
⚡️📉 NEWS - Stocks fell sharply on Monday as last week’s selling pressures continued. Investors are concerned about a potential economic slowdown after President Trump declined to rule out a recession amid new U.S. tariffs.
The Dow Jones Industrial Average fell 2.1%, while the S&P 500 dropped 2.6%, and the Nasdaq Composite declined 4%. Both the S&P 500 and the tech-heavy Nasdaq reached their lowest levels since September 2024.
🗣️ Yanis Varoufakis, former Greek finance minister, sees Trump’s tariffs as part of a risky plan to devalue the US dollar to boost exports and bring manufacturing back, while maintaining the dollar’s global dominance. He suggests Trump might encourage a shift of foreign dollar reserves into cryptocurrencies, particularly stablecoins backed by the dollar, to achieve this without empowering rival currencies like the euro or yuan.
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