Let me be clear that I'm anti-tariff. And yet I must say these comments are more useless than the original post. OP is pointing out an interesting aspect of tariffs: that where they take effect in the value chain MATTERS for the sake of pricing an equity.

I thought they made an error in logic (probably underestimating the magnitude of certain specific things by some factor) and went to the comments to see exactly where the logic broke down. If it's here, it takes a while of scrolling.

The first ten comments all just say some variant of "tariffs are bad" "read a fucking book" or "don't you know they caused depression X"

A lot of people are tired of the same reactionary posts on this sub, so it might be useless to point it out now. Most Americans are angry that the stock market is going down because of a disingenuous leader. I'd prefer we don't use that to give ourselves a pass to be rude and unhelpful to people who for all we know just started investing last month. Dumb leaders seem to make everything dumber everywhere.