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Barstool Sports founder Dave Portnoy revealed Thursday that he lost millions as a result of the stock market nosedive resulting from President Donald Trump’s tariffs.
The president on Wednesday announced the implementation of sweeping tariffs on dozens of American trade partners. Trump’s announcement — in the White House Rose Garden — was held after the stock market closed, but the market responded by immediately plummeting at opening the next day. Moments after opening at 9:30 a.m. in New York, the Dow was down nearly 3% and the S&P saw a dip well over 3%.
Hours later, Portnoy talked about the brutal day on his Twitter/X live stream called “Davey Day Trader Global.” During that stream, he detailed just how significant his losses were.
“And it’s tariff city,” Portnoy said around the three-minute mark of the stream. “Trump has put his tariffs all over the place. I’ve been trying to understand them. I don’t. Like it’s more a trade deficit tariff to me. Like, ‘Hey, we get this much shit from you and you get this much from us. Let’s even that up. Let’s get some wacky formula and do tariffs.’ And everything’s in the shitter because of it.
“So I said, ‘Dave, pick yourself up. It’s OK that you don’t feel good. You gotta get to the people. The people need you. Get on DDG presented by Kraken, where I do all my crypto — or what I got left of it. I almost tweeted out, ‘Dave, how much are you down right now today?’ Seven million. I’m down seven million bucks in stocks and crypto.”
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