The Economist Warns of Dollar Fluctuations: New Cover Depicts It as a Snake

The American magazine "The Economist" has placed the US dollar on the cover of its new issue in the form of a snake, signaling the risks and fluctuations associated with the American currency, warning investors of the potential for a continuous decline in its value.

The Dollar Declines Against Major Currencies

The main article is titled: "The Era of the Fluctuating Dollar is Declining. American Asset Holders Must Get Used to It".
Trading data showed a decline in the dollar index, which measures the value of the US currency against a basket of major currencies, by about 10% since the inauguration of President Donald Trump in January 2025, while it recorded a decline of about 15% against the euro.

US Stocks Reach Record Levels Despite Fluctuations

Despite the weakness of the dollar, US markets have shown strong performance; the Dow Jones Industrial Average rose by more than 10%, while the Nasdaq Composite jumped by about 15% during the same period, despite currently being about 6% away from its historical peak in October 2025.
The magazine notes that the US economic growth is still admired worldwide, but it is accompanied by sharp fluctuations in the markets.

Panics Have Become More Frequent

The magazine pointed out that panic among investors has become more frequent, as occurred in April 2025 when Trump announced the imposition of a "fundamental tax" on imports, leading investors to collectively shed American assets, with a sharp decline in stock and dollar prices.
The magazine confirmed that this phenomenon, which was traditionally limited to emerging markets, has occurred 7 times out of 52 weeks recently, at a rate three times faster compared to the past decade.

Gold Rises as a Safe Haven

In response to the uncertainty, the price of gold has risen by 75% since the beginning of Trump's second term, reaching over $5600 per ounce for the first time at the end of January 2026, which is considered a warning sign for investors about the fragility of American financial strength amid fluctuations.
The magazine comments: "This should make those who believe that America's financial strength is unshakeable think again."