NEW YORK - President Donald Trump’s tariffs have spooked investors, with fears of an economic downturn driving a stock market sell-off that has wiped out US$4 trillion (S$5.3 trillion) from the S&P 500’s peak last month, when Wall Street was cheering much of Mr Trump’s agenda.
But you have context. You’re looking at a situation where we see massive changes in the stock market but because the stock market is almost entirely owned by incredibly rich people, you don’t see so many lives being destroyed just yet. So every time you hear someone talk about the stock market, keep in mind that they are probably talking about rich people’s potential future yachts, and not anything actually happening to the ordinary person right now.
That much I know, and unfortunately the original comment could have pulled from many places. Mostly I was just trying to make sure they weren’t one of those “rich people aren’t actually rich” or “rich people take risks!” people.