As Trump announces tariffs, auto jobs at Stellantis vanish, Restoration Hardware stock crashes mid-call, Jim Cramer has an existential crisis—meanwhile, Warren Buffett just shrugs.
It’s official: the trade war reboot is on. On April 3rd, Donald Trump
slapped a new round of tariffs on Chinese goods, reigniting investor fears and
kicking off a stock market nosedive that left traders, CEOs, and TV pundits
scrambling for Xanax. The Dow plummeted over 800 points by midday, and by the
end of trading, nearly $3.1
trillion in market value had evaporated.
Wall Street’s reaction? Think less “measured recalibration” and more
“stampede out the door.” Yesterday the news painted a picture of utter chaos,
with red everywhere and traders trying to price in what Trump might do
next—which, let’s face it, is basically impossible. While Trump insists the
tariffs are a strategic move to “level the playing field,” investors are
calling it what it is: a gut punch to the markets.
Stellantis Slashes Jobs as Auto Industry Takes the First Hit
A real-world example of how fast this escalates? Look no further than
the U.S. auto industry. According
to CNN, five plants across the Midwest and South—three owned by Stellantis
and two by suppliers—have already announced layoffs tied directly to the new
tariffs. Around 4,000 workers will be affected, many of whom just survived the
last round of supply chain chaos. Why? The plants supply factories in Mexico
and Canada.
The layoffs may be the first sign that this trade war isn’t just paper
losses and Wall Street angst—it’s real people out of work. And it’s only the
beginning.
“Oh, Sh*t”: Restoration Hardware’s CEO Says What We’re All Thinking
Speaking of CEOs losing their minds, the most viral moment of the day
came courtesy of Restoration Hardware (known as RH). During a live earnings
call, CEO Gary Friedman watched in real time as his company’s stock
nosedived—dropping more than 15% in the first 20 minutes. His reaction?
“Oh, sh*t.”
That wasn’t leaked audio. That was live, on the call, immortalized
forever in financial journalism. The Fox Business report noted that RH’s luxury
home furnishings are heavily reliant on Chinese imports, making them especially
vulnerable to Trump’s new tariffs. Investors bailed out faster than a tech bro
hearing “interest rate hike.”
You can hear the slip at around 20 seconds.
Friedman tried to recover, offering reassurances that RH had
“diversified suppliers,” but the damage was done. But, let’s face it, he’s only
saying what we’re all thinking.
Meanwhile, Warren Buffett Is Just… Fine?
While everyone else was sweating through their Patagonia vests, one man
stayed chill: Warren Buffett. According
to Bloomberg, Berkshire Hathaway weathered the storm like a rock in a
hurricane, its famously conservative portfolio giving it just enough insulation
from the worst of the selloff.
Buffett’s mix of utilities, insurance, and Coca-Cola isn’t sexy, but
when volatility hits, boring can be beautiful. Berkshire’s Class A shares
dipped slightly but rebounded by day’s end, making it one of the only big-name
firms to escape the bloodbath mostly intact. If anyone was looking for a
grown-up in the room during the chaos, it wasn’t in Washington—it was in Omaha.
Jim Cramer Has Entered Full Meltdown Mode
And finally, let’s check in with everyone’s favorite financial hype-man
turned Cassandra: Jim Cramer. The CNN video of Cramer’s reaction to Trump’s
tariffs is part financial analysis, part Shakespearean tragedy, “I feel like a
sucker” he said.
“They assured us over and over again that they’d do the thing that’d
ensure that the tariffs would come down and the countries that were bad actors
would change their ways. So, Israel gets rid of their tariff, Vietnam cuts
theirs and they still got them, it was such a shame,” he said with the air of a
disappointed teacher at parent’s night.
I’d almost feel sorry for him.
Final Thoughts: Trump Moves and Markets Pay the Price
Whether you think Trump’s tariffs are brilliant negotiation tools or
economic napalm, the short-term market reaction is undeniable—and brutal. Auto
layoffs, CEO meltdowns, and stock plunges show how fragile investor confidence
remains. The tech sector’s especially jittery, the S&P is on shaky ground,
and even the Fed seems spooked.
But maybe the real takeaway here is this: when you’ve got CEOs cursing on
a live call, and Jim Cramer of all people is upset with Trump, you know something’s
gone badly wrong.
For more stories around the edges of finance, visit our Trending section.
As Trump announces tariffs, auto jobs at Stellantis vanish, Restoration Hardware stock crashes mid-call, Jim Cramer has an existential crisis—meanwhile, Warren Buffett just shrugs.
It’s official: the trade war reboot is on. On April 3rd, Donald Trump
slapped a new round of tariffs on Chinese goods, reigniting investor fears and
kicking off a stock market nosedive that left traders, CEOs, and TV pundits
scrambling for Xanax. The Dow plummeted over 800 points by midday, and by the
end of trading, nearly $3.1
trillion in market value had evaporated.
Wall Street’s reaction? Think less “measured recalibration” and more
“stampede out the door.” Yesterday the news painted a picture of utter chaos,
with red everywhere and traders trying to price in what Trump might do
next—which, let’s face it, is basically impossible. While Trump insists the
tariffs are a strategic move to “level the playing field,” investors are
calling it what it is: a gut punch to the markets.
Stellantis Slashes Jobs as Auto Industry Takes the First Hit
A real-world example of how fast this escalates? Look no further than
the U.S. auto industry. According
to CNN, five plants across the Midwest and South—three owned by Stellantis
and two by suppliers—have already announced layoffs tied directly to the new
tariffs. Around 4,000 workers will be affected, many of whom just survived the
last round of supply chain chaos. Why? The plants supply factories in Mexico
and Canada.
The layoffs may be the first sign that this trade war isn’t just paper
losses and Wall Street angst—it’s real people out of work. And it’s only the
beginning.
“Oh, Sh*t”: Restoration Hardware’s CEO Says What We’re All Thinking
Speaking of CEOs losing their minds, the most viral moment of the day
came courtesy of Restoration Hardware (known as RH). During a live earnings
call, CEO Gary Friedman watched in real time as his company’s stock
nosedived—dropping more than 15% in the first 20 minutes. His reaction?
“Oh, sh*t.”
That wasn’t leaked audio. That was live, on the call, immortalized
forever in financial journalism. The Fox Business report noted that RH’s luxury
home furnishings are heavily reliant on Chinese imports, making them especially
vulnerable to Trump’s new tariffs. Investors bailed out faster than a tech bro
hearing “interest rate hike.”
You can hear the slip at around 20 seconds.
Friedman tried to recover, offering reassurances that RH had
“diversified suppliers,” but the damage was done. But, let’s face it, he’s only
saying what we’re all thinking.
Meanwhile, Warren Buffett Is Just… Fine?
While everyone else was sweating through their Patagonia vests, one man
stayed chill: Warren Buffett. According
to Bloomberg, Berkshire Hathaway weathered the storm like a rock in a
hurricane, its famously conservative portfolio giving it just enough insulation
from the worst of the selloff.
Buffett’s mix of utilities, insurance, and Coca-Cola isn’t sexy, but
when volatility hits, boring can be beautiful. Berkshire’s Class A shares
dipped slightly but rebounded by day’s end, making it one of the only big-name
firms to escape the bloodbath mostly intact. If anyone was looking for a
grown-up in the room during the chaos, it wasn’t in Washington—it was in Omaha.
Jim Cramer Has Entered Full Meltdown Mode
And finally, let’s check in with everyone’s favorite financial hype-man
turned Cassandra: Jim Cramer. The CNN video of Cramer’s reaction to Trump’s
tariffs is part financial analysis, part Shakespearean tragedy, “I feel like a
sucker” he said.
“They assured us over and over again that they’d do the thing that’d
ensure that the tariffs would come down and the countries that were bad actors
would change their ways. So, Israel gets rid of their tariff, Vietnam cuts
theirs and they still got them, it was such a shame,” he said with the air of a
disappointed teacher at parent’s night.
I’d almost feel sorry for him.
Final Thoughts: Trump Moves and Markets Pay the Price
Whether you think Trump’s tariffs are brilliant negotiation tools or
economic napalm, the short-term market reaction is undeniable—and brutal. Auto
layoffs, CEO meltdowns, and stock plunges show how fragile investor confidence
remains. The tech sector’s especially jittery, the S&P is on shaky ground,
and even the Fed seems spooked.
But maybe the real takeaway here is this: when you’ve got CEOs cursing on
a live call, and Jim Cramer of all people is upset with Trump, you know something’s
gone badly wrong.
For more stories around the edges of finance, visit our Trending section.
