Trump’s crypto czar’s 5-word verdict on tariff as stock market looks up
As US stocks looked up Tuesday after days of bloodbath, President Donald Trump’s crypto czar David Sacks posted a five-word verdict that ‘Black Monday hoax is over’ — taking a swipe at experts and naysayers who predicted doom for the markets as a result of Donald Trump’s reciprocal tariffs.
US stocks were higher Tuesday, setting the stage for a rebound. The Dow was up 930 points, or 2.45%, in midday trading. The broader S&P 500 gained 2.3%. The tech-heavy Nasdaq Composite rose 2.5%.
What is Black Monday?
Black Monday was a global stock market crash on October 19, 1987. After Trump announced tariffs on Wednesday, US stock saw the worst decline since the COVID-19 pandemic began in 2020. Experts predicted that Monday would be something…
