Wall Street is turning its back on Trump and flashing an economic warning
CNN
On-again, off-again tariffs, mass government layoffs, funding cuts and immigration crackdowns have seriously spooked Wall Street, which is emphatically rejecting President Donald Trump’s chaotic economic agenda.
On-again, off-again tariffs, mass government layoffs, funding cuts and immigration crackdowns have seriously spooked Wall Street, which is emphatically rejecting President Donald Trump’s chaotic economic agenda. The market that embraced Trump for most of his first term and in the lead-up to his second has turned on the president. The S&P 500 closed in correction territory Thursday, falling 10% from the all-time high it set just three weeks ago. The Dow is approaching correction too. The tech-heavy Nasdaq fell into a correction more than a week ago. And the Russell 2000, made up of smaller businesses, which are typically more exposed to shifting economic winds, has fallen a stunning 18.4% from a high hit just after the election, which was within a whisker of its all-time record. Even as stocks are set for a modest comeback Friday – the Dow is on pace to rise 200 points, or 0.6%, at the open, S&P 500 futures were 0.7% higher and Nasdaq futures were up 0.9% – sentiment on Wall Street has been overwhelmingly negative. CNN’s Fear and Greed Index has plunged into “Extreme Fear.” “The stock market is losing its confidence in the Trump 2.0 policies,” said Ed Yardeni, president of Yardeni Research.
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