‘Orange Monday’ memes have flooded X amid fears over a potential ‘Black Monday’-style market crash tied to President Donald Trump’s reciprocal tariffs on trading partners.
On Sunday evening, U.S. stock futures plummeted, with Dow Jones Industrial Average futures tumbling over 1,700 points by 6 p.m, WSJ reported.
Japan’s Nikkei fell nearly 9% early Monday, while China’s CSI300 blue-chip index dropped 4.5%. Hong Kong’s Hang Seng slid 8%, with Alibaba and Tencent down over 8%. Singapore stocks plummeted more than 7%, and Australia’s S&P/ASX 200 sank 6.07% at the open. In South Korea, the Kospi index fell 4.34%, and the small-cap Kosdaq dropped 3.48%.
On Saturday, Market analyst and CNBC host Jim Cramer warned investors about a ‘Black Monday’-like crash on April 7.
“If the president doesn’t try to reach out and reward these countries and companies that play by the rules, then the 1987 scenario … the one where we went down three days and then down 22 percent on Monday, has the most cogency,” Cramer said on his show.
Memes –
Trump’s reciprocal tariffs –
On Wednesday, Trump rolled out reciprocal tariffs targeting imports from approximately 90 countries, slapping a 34% tariff on goods from China, a 20% tariff on products from the European Union, and a 10% tariff on imports from the United Kingdom, CBS News reported.
“We subsidise a lot of countries and keep them going and keep them in business. Why are we doing this? I mean, at what point do we say you got to work for yourselves. This is why we have the big deficits. This is why we have that, amount of debt that’s been placed on our heads over the last number of years, and we’re really not taking it anymore,” he said while announcing the tariffs.
List of reciprocal tariffs by country –
China: 34%
European Union: 20%
Vietnam: 46%
Taiwan: 32%
Japan: 24%
India: 26%
South Korea: 25%
Thailand: 36%
Switzerland: 31%
Indonesia: 32%
Malaysia: 24%
Cambodia: 49%
United Kingdom: 10%
South Africa: 30%
Brazil: 10%
Bangladesh: 37%
Singapore: 10%
Israel: 17%
Philippines: 17%
Chile: 10%
Australia: 10%
Pakistan: 29%
Turkey: 10%
Sri Lanka: 44%
Colombia: 10%
Peru: 10%
Nicaragua: 18%
Norway: 15%
Costa Rica: 10%
Jordan: 20%
Dominican Republic: 10%
United Arab Emirates: 10%
New Zealand: 10%
Argentina: 10%
Ecuador: 10%
Guatemala: 10%
Honduras: 10%
Madagascar: 47%
Myanmar (Burma): 44%
Tunisia: 28%
Kazakhstan: 27%
Serbia: 37%
Egypt: 10%
Saudi Arabia: 10%
El Salvador: 10%
Côte d’Ivoire: 21%
Laos: 48%
Botswana: 37%
Trinidad and Tobago: 10%
Morocco: 10%
