Author: Pitas Costas, Brendan O’Brien
-The stock market has more in common with the emergence of this year’s Chinese instrument for deep artificial intelligence than with President Donald Trump’s policy, the Secretary of the US Treasury Scott Bessnt said in an interview on Friday, which signaled only little concerns about the ongoing nose.
“For anyone who thinks these market decreases are based on President’s economic politicians, I can tell you that this market decline has begun by AI Deepseek’s Chinese announcement,” Bessnt told Tucker’s conservative commentator Carlson.
“If I were to analyze in my old hat and this is the only time I will talk about it … What is happening to the market, I would say it is more a problem with MAG 7, not a Maga problem,” said Bessnt, who operated the Hedge Fund until Trump was depicted as Minister of Finance. “MAG 7” refers to the shares of the so-called large-scale 7-group seven high-performance technological shares that helped increase the market before the recent selection. Maga refers to Trump’s political slogan “Make America Great Again”.
In two days, US stocks have been more aggressive than analysts and investors expected US stocks to reduce by approximately 10%within two days since the new global tariff regime, which was more aggressive than analysts and investors. It is a decline that market analysts and large investors have laid themselves on the feet of the aggressive pressure of Trump on tariffs, which most economists and the head of the federal reserve system believe that the risk causes inflation and damaging economic growth.
The shares at the end of January hit when the Chinese startup Deepseek launched a free AI assistant that he says he uses less data for a fraction of the cost of existing services. This resulted in a record one -day loss of almost $ 600 billion from AI Chipmaker NVIDIA, one of the beautiful 7.
However, the market soon found its position again and by mid -February, the Benchmark S&P 500 index regained a record level. Then the shares turned south since the end of February after a widely followed consumer survey showed that households were growing broadly pessimistic about the economy prospects and worrying that Trump’s pressure on tariffs would increase inflation. Since then, he described a number of other surveys of companies and consumers, and other data have shown that the rate of activity has slowed down during the first quarter of 2025.
S&P lost almost 14% since February 19 and nearly $ 10 trillion from the US stock market has been deleted.
Bessnt is only the latest official Trump Administration, who discarded a decline in the markets, which, after Trump’s announcement on Wednesday, intensified the global basic import tax of 10% and much higher rates for tens of countries. The Minister of Commerce Howard Lutnick also refused to drop.
Trump repeated on Friday after a contribution to the social media with the title “Trump deliberately disrupts the market” and presents images of the President aimed at a large red dart and signature of executive orders in the White House.
Meanwhile, Bessnt also told the Carlson that the administration retained the policy of the “strong dollar” and some analysts have rejected the claim that the tariff unit was a deliberate effort to weaken the dollar to become more competitive in global markets.
“No one should listen to anyone in the markets that speaks of the US dollar other than President Trump or about himself,” Bessnt said. “We are the only ones who talk about this administration, the United States government about the policy of the dollar.”
“We have a strong dollar policy and put all the necessary ingredients to make sure that the dollar is strong in the long run,” he said.
The dollar got rid of almost 6% of its value against the currencies of the main business partners since January 20 inauguration.
This article was generated from an automated news agency without text modifications.
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