October 10, 2025: Is This the Start of the Great Trumpcession? Markets Plunge on Trump Threats.

We used to say, “Leave It to Beaver,” mimicking a TV show title, but now it’s: “Leave it to Trump.”

Those of us who have money in the stock markets, even if just of the 401(k) and IRA variety, vividly remember the aftermath of President Trump’s “Liberation Day” on April 2, when he announced skyrocketing new tariff rates.

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The markets did not skyrocket in return, but fell to earth in a huge way, wiping out months and years of gains.

How about another saying? “Here we go again,” as Trump threatens huge new tariffs on China in retaliation for its just-announced restrictions on rare earth exports. He even says his upcoming meeting with Xi Jinping is probably off as well.

The markets immediately took huge dives. They could still recover somewhat in the trading day, or they could worsen.

“Dependent on what China says about the hostile ‘order’ that they have just put out, I will be forced, as President of the United States of America, to financially counter their move,” Trump wrote in a post on Truth Social.

It didn’t take long for a thud to be heard on Wall Street.

Let’s hope this is just a momentary freak-out and cooler heads will prevail next week — including Trump’s — or we could be in for the Great Trumpcession of 2025.

This is October, after all, an ominous portent for the markets.