‘Liquidation Day’: CNBC rebrands Trump’s tariffs after stock market selloff
CNBC anchor John Fortt rebranded President Donald Trump's so-called "Liberation Day" tariffs as "Liquidation Day" as the stock market lost over $3.1 trillion in value over the new policies.
After the market's closing bell Thursday, CNBC anchor Morgan Brennan gave viewers the bad news.
"Tremble on Wall Street today as investors react to a new global trade order following President Trump's tariff announcement that happened here 24 hours ago," she said. "Stocks going out at the lows, the Dow falling more than 1,600 points, almost 1,700 points."
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"The S&P and Nasdaq just finished their worst sessions since 2020," she continued. "All the major averages are now in correction territory, or worse, in the case of the Russell 2000, in bear market territory."
"Well, President Trump called yesterday's tariff announcement Liberation Day," Fortt added. "Today's market reaction looks more like "Liquidation Day.""