Monday's rout extends a two-day selloff that wiped trillions of dollars from equity values after U.S. President Donald Trump's administration announced sweeping tariffs last week. The lack of reaction from Trump and from Bessent, in terms of their concern levels appearing to be very, very low in terms of the market dislocation. If there isn't some sort of walking back of the announcements, then we’re heading for a liquidity event and liquidity will get sucked out of these markets big time across all asset classes.
Global markets brace for turbulence
US Treasury Secretary Scott Bessent again dismissed fears of a recession Sunday, saying that the market “consistently underestimates Donald Trump.”
Bitcoin plummets as tariff fallout spreads
The price of Bitcoin fell by around 5pc on Sunday amid the growing fallout from Donald Trump’s trade war. The world’s largest and best-known cryptocurrency tumbled to just under $79,000 (£61,500) by the end of the weekend, way below its peak of $106,000 in the wake of the US President’s election victory. Etherium, the second biggest cryptocurrency globally, also slipped by around 9.6pc to just under $1,618. The sell-off signals another potentially turbulent week for investors, as stock markets b
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Treasury Secretary Scott Bessent downplays stock market crash as short-term reaction and says ‘everything is working very smoothly’
Bessent said "what I've been very impressed with is the market infrastructure, that we had record volume on Friday."
Trump compares tariffs to 'medicine' as Asian markets convulse
ABOARD AIR FORCE ONE (Reuters) -U.S. President Donald Trump said on Sunday foreign governments would have to pay "a lot of money" to lift sweeping tariffs that he characterized as "medicine," prompting further carnage in global financial markets. Asian stocks posted steep losses in early trading on Monday and U.S. stock market futures opened sharply lower as investors registered concerns that Trump's tariffs could lead to higher prices, weaker demand, lower confidence and potentially a global recession. Speaking to reporters aboard Air Force One, Trump indicated he was not concerned about losses that have already wiped out trillions of dollars in value from share markets around the world.
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