Reported 1 day ago
Wall Street faced a significant market downturn following President Trump's recent tariff announcements, which caused a $5.4 trillion loss in stock value and raised recession fears across the globe. Treasury Secretary Scott Bessent, though seen as a potential ally to Wall Street due to his prior experience, was not the main force behind the tariffs, which were largely decided by Trump's inner circle. As financial executives grapple with the unexpected consequences of Trump's economic agenda, concerns grow over the potential long-term impact on both domestic businesses and the Republican party's political standing.
Source: YAHOO