Washington: After US President Donald Trump announced an increase in tariffs on imports from around 60 countries, including India, China, European Union, stock markets worldwide reacted negatively. Meanwhile, Jim Cramer, a famous TV channel host, has predicted that the tariff war could lead to a market crash in the United States reminiscent of the infamous 1987 ‘Black Monday’.
Commenting on Trump’s administration’s announcement of tariffs, Carmer said, “The effect of Trump’s tariff will be seen on Monday.” He advised the US president to provide relief to the countries that have not announced any retaliatory measures like increasing import duties on American products.
Carmer said that if Trump refrains from doing so, he predicted a 1987 like crash, i.e., a 22 percent decline in the stock market on Monday.
After Trump announced a 10 percent tariff on all imports, in addition to higher tariffs on other countries including 26 percent on India and 34 percent on China, the TV presenter warned of a possible stock market crash.
He said, “It is difficult to build a new weak world order. I am trying but there is nothing yet that can remove the image of October 87 from the fore.” While recalling his experience of 1987 Black Monday, he posted, “Look, I certainly don’t want 1987 to come to us again. But I traded during that period and I remember everything.”
Black Monday market crash of 1987
Jim Cramer’s Black Monday prediction has gone viral on social media. Cramer took to X to pen down his comments. He warned of the infamous crashing on Dow Jones Industrial Average (DJIA) index (22.6 percent) on October 19, 1987, during the infamous global financial crisis.
“This was the largest one-day stock market decline in history,” he wrote.
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Jim Cramer, a prominent financial commentator, has issued a stark warning about the potential consequences of President Trump’s recent tariff increases. He predicted a significant stock market decline, echoing the dramatic 1987 Black Monday crash. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
