Wall Street's decline blamed on tech stocks, not Trump's tariffs. Treasury Secretary Scott Bessent says reassessment of AI valuations triggered selloff.
Wall Street is set to extend its brutal selloff, with the Dow Jones Industrial Average, S&P 500 Index, and Nasdaq Composite headed for their worst weeks since 2020.
Federal Reserve Chair Jerome Powell signaled patience on rate cuts amid rising uncertainty, while U.S. President Donald Trump framed the current moment as an opportunity to lower borrowing costs and sustain economic momentum.
Wharton School professor Jeremy Siegel on Friday issued a strong warning about President Donald Trump's sweeping tariff policy. Siegel argues Trump's tariff policy could be more damaging than the infamous Smoot-Hawley Tariff Act of 1930.
Wedbush tech analyst Dan Ives on Friday morning described Trump's tariffs as a "bad science experiment that in the process will cause an economic Armageddon in our view and crush the tech trade."
Dip-buying absent in early NY trading, Wall Street deep in red as trade war fears escalate despite strong jobs report. Investors on edge for hints from Fed Chair Powell.
The provision allowed products less than $800 to enter the U.S. without duties and inspection, and was widely used by e-commerce sites like Temu and Shein.
Munster said tariffs don’t change the reality that the race to general intelligence is the most significant tech, economic and geopolitical shift in 25 years.
Tariffs being slapped onto the U.S.’s trading partners all on the same day has only increased the levels of uncertainty for market participants. The end result was one of the single-worst trading days in recent memory.
In this video, I break down the technical analysis behind today’s sell-off, covering key support and resistance levels, and discuss what traders need to watch next.
