President Trump and his team appear to view everyday Americans and wealthy investors as inhabiting separate realms that do not intersect. They discuss the impact of Trump's tariffs on investment portfolios versus workers, with Treasury Secretary Scott Bessent emphasizing the administration's focus on Main Street over Wall Street.

However, it is the average Americans who are most vulnerable to the negative effects of Trump's tariffs, which are causing turmoil in financial markets and posing a threat of recession. Trump has enacted a series of import taxes since taking office, culminating in the significant tariffs announced on April 2. While Trump sees these tariffs as a pathway to enhanced prosperity, investors view the same event as "Obliteration Day" due to the substantial financial losses that ensued.

Following this day, the S&P 500 index plummeted by 10%, marking one of the swiftest declines in history. The index is now down by 17% from its peak in mid-February, close to bear market territory. The six-week decline has erased almost $11 trillion in wealth.

Despite the notion circulating in Trumpworld that stock market downturns only impact the wealthy, the reality is quite different. A substantial portion of middle- and lower-income Americans have investment exposure, such as through retirement plans like 401(k)s. This stock market crisis will affect them directly through investment losses, as a significant percentage of Americans have stakes in the market due to increased accessibility and investment options in recent years.