The US stock market experienced significant declines, with the S&P 500 dropping 2.7% and investors selling shares from major tech companies. President Trump's recent comments led to uncertainty regarding the trade policies, although White House officials claim these policies are creating jobs. National Economic Council head Kevin Hassett stated that while uncertainties exist, they expect favorable outcomes from tax cuts and deregulation. Despite the downturn, Hassett maintains an optimistic outlook for economic growth due to increased manufacturing jobs and potential productivity improvements from AI.
The S&P 500 fell 2.7%, the Dow Jones dropped 2%, and the tech-heavy Nasdaq dropped 4% as investors sold shares in the so-called magnificent seven.
Hassett insisted that there's a lot of reasons to be extremely bullish going forward, saying that the Trump administration was still aiming for the biggest tax cuts in history.
Collection
[
|
...
]