Reported 1 day ago
Former Treasury Secretary Lawrence Summers warns of potential further turbulence in financial markets after a recent significant decline, which he compares to historical events like the 1987 crash and the 2008 crisis. Following President Trump’s announcement of high tariffs on multiple countries, US stock markets experienced a sharp drop of $5.4 trillion in value over two days, sparking concerns about inflation, economic slowdown, and lower consumer spending. Summers suggests that without a reversal of current policies, further economic challenges are likely.
Source: YAHOO