And now its the turn of commodities. Elected a total idiot, get burned. Recession on the way
https://www.cnbc.com/2025/04/10/global-commodity-selloff-is-flashing-warning-signs-for-world-economy.html
Global commodity prices are getting hammered, as trade war tensions once more fester between the world’s two largest economies — and recession signals are flashing red.
The S&P GSCI index, which tracks global commodities across the energy, metals and agriculture sectors, shows that prices have declined over 8% since April 2, when U.S. President Donald Trump announced a slew of “reciprocal” tariffs. That was despite the slight recovery in prices after the White House leader announced a tariff U-turn Wednesday.
Trump has nevertheless turned up the heat on China by hiking the tariff rate on Chinese goods to 125%.
“The collapse in commodities [prices] is a circuit breaker, a sign that a global recession is afoot,” said Marko Papic, a macro and geopolitical expert at BCA Research.
China is the largest consumer of commodities, and the higher-than-expected tariffs are likely to be a drag not only on the country’s growth, but also on its consumption of certain commodities, in particular energy and industrial metals.
Of all the commodities in the basket, energy fell the most since April 2, declining around 12%, according to S&P Global’s GSCI energy gauge.