Trump confident despite stock market crash: "The patient is alive and healing"
Donald Trump seems to remain confident in the excellence of the new tariffs despite the global stock market crash and the fact that the US stock markets are heading for their worst day in years.
"The surgery is over! The patient is alive and healing. The prognosis is that the patient will be much stronger, bigger, better and more resilient than ever before," the president writes on Truth Social.
On Thursday, the leading US index will fall between 3.8 and 5.8 percent.
With such declines, the S&P 500 will have fallen 11 percent since mid-February and the technology-heavy Nasdaq will have fallen 16 percent during the same period.
Financial giants: Tariffs could push the world into recession
Several of the world's financial giants have raised the risk of an American recession. According to some, it is even likely, CNBC and Reuters write.
“If the tariffs remain in place, they could likely push the US and the world economy into recession this year,” writes JPMorgan global economist Nora Szentivanyi in a market letter.
Deutsche Bank and Bank of America write the same thing in their recent updates.
HSBC estimates that the US runs a 40 percent risk of falling into recession, while the country’s former Treasury Secretary Larry Summers believes that it is more like 50 percent.
British Barclays writes that “the risk is high” and predicts that US GDP growth will sum up in 2025 with a loss of 0.1 percent.
JD Vance: Be patient – it won’t be noticeable overnight
US Vice President JD Vance tries to calm Americans and Wall Street in an interview with Fox News, saying that the effects of the new tariffs “won’t be noticeable overnight.”
– Yes, this is a big change, I’m not kidding. But we needed a big change.
Vance blames Joe Biden for the high national debt and shrinking manufacturing industry in the United States, saying the country can no longer follow the former president's "globalist path."
US stock markets have plummeted since Trump's tariff announcement, and the Nasdaq is heading for its worst trading day since the collapse during the coronavirus pandemic.
Donald Trump seems to remain confident in the excellence of the new tariffs despite the global stock market crash and the fact that the US stock markets are heading for their worst day in years.
"The surgery is over! The patient is alive and healing. The prognosis is that the patient will be much stronger, bigger, better and more resilient than ever before," the president writes on Truth Social.
On Thursday, the leading US index will fall between 3.8 and 5.8 percent.
With such declines, the S&P 500 will have fallen 11 percent since mid-February and the technology-heavy Nasdaq will have fallen 16 percent during the same period.
Financial giants: Tariffs could push the world into recession
Several of the world's financial giants have raised the risk of an American recession. According to some, it is even likely, CNBC and Reuters write.
“If the tariffs remain in place, they could likely push the US and the world economy into recession this year,” writes JPMorgan global economist Nora Szentivanyi in a market letter.
Deutsche Bank and Bank of America write the same thing in their recent updates.
HSBC estimates that the US runs a 40 percent risk of falling into recession, while the country’s former Treasury Secretary Larry Summers believes that it is more like 50 percent.
British Barclays writes that “the risk is high” and predicts that US GDP growth will sum up in 2025 with a loss of 0.1 percent.
JD Vance: Be patient – it won’t be noticeable overnight
US Vice President JD Vance tries to calm Americans and Wall Street in an interview with Fox News, saying that the effects of the new tariffs “won’t be noticeable overnight.”
– Yes, this is a big change, I’m not kidding. But we needed a big change.
Vance blames Joe Biden for the high national debt and shrinking manufacturing industry in the United States, saying the country can no longer follow the former president's "globalist path."
US stock markets have plummeted since Trump's tariff announcement, and the Nasdaq is heading for its worst trading day since the collapse during the coronavirus pandemic.
"Unharmed" Mexico's stock market rises the most in the world
Mexico's stock market rose the most in the world after the announcement that the country will be exempted from the US's global trade tariffs, reports Bloomberg.
The broad index Mexbol rose by two percent to its highest level since last summer, led by financial giants Grupo Financiero Inbursa SAB de CV and Regional SAB de CV, which both rose over seven percent.
"Mexico escaped tax-free after Liberation Day," writes strategist Rodolfo Ramos, referring to Trump's name on yesterday's tariff announcement.
President Claudia Sheinbum also praises the announcement.
- This is due to the good relationship we have developed with the US, built on cooperation with respect, she said at a press conference on Thursday, according to CNN.
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