Updated April 5th 2025, 17:21 IST
US Stock Market Crash: Wall Street faced its most severe turmoil since the COVID-era crash, with major indices plunging amid rising trade tensions between the United States and China. On Friday alone, the S&P 500 fell 6%, the Dow Jones Industrial Average dropped 5.5%, and the Nasdaq Composite tumbled by 5.8%.
The sharp selloff followed U.S. President Donald Trump ’s announcement of new tariffs on Chinese goods, reigniting fears of an intensified trade war.
Book Author Robert Kiyosaki, best known for his book Rich Dad Poor Dad, reacted strongly to the market crash. “I SHOULD NOT SAY THIS… because it’s not COOL… to say… I TOLD YOU SO,” Kiyosaki said. “Yet I did tell you so. In my book RICH DAD’s PROPHECY, I warned the biggest stock market crash in history was going to wipe out the financial security of millions of investors… especially my generation… THE BABY BOOMers.”
Kiyosaki has long been critical of Wall Street investments and has advised people—particularly baby boomers—against relying on traditional financial vehicles like stocks and mutual funds. “Boomers are out of time,” he said. “They do not have time to ‘Invest for the long term in stocks, bonds, mutual funds, or ETFs.’”
Instead, he urges investors to look into what he calls “real money” gold, silver, and Bitcoin. “After this paper market crash wipes out millions of fake paper assets… odds are the Fed and Treasury will turn the printing presses on FULL SPEED… printing trillions in fake money,” he warned. “And real money… Gold, Silver, and Bitcoin go up in value.”
According to Kiyosaki, it’s not that these assets are rising in value—rather, the U.S. dollar is losing purchasing power. “Remember, gold, silver, and Bitcoin ARE NOT going up in price… what is happening is the dollar is going down in value… causing everything of value, such as food, housing and energy… to become more expensive… a.k.a. INFLATION.”
For those who still have time to plan, Kiyosaki recommends shifting away from Wall Street entirely. “If you still have ‘some runway left,’ you may want to save real money which are gold, silver, and Bitcoin,” he concluded. “Take care. There are going to be rough storms ahead.”
The US stock market is down under President Donald Trump's sweeping tariffs, which has ignited investors' worries of a global trade war, resulting in significant sell-offs. The week closed with major indices suffering steep weekly declines: the S&P 500 dropped 9.1%, the Dow lost 7.9%, the Nasdaq sank 10%, and the Russell 2000 declined 9.7%.
Year-to-date, the losses have deepened. The S&P 500 is down 13.7%, the Dow 9.9%, the Nasdaq 19.3%, and the Russell 2000 18.1%, marking a particularly challenging time for investors.
Published April 5th 2025, 16:56 IST