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Wall Street Bursts With Anger as Tariffs Cause Wild Stock Market Swings

华尔街反应
股市震荡
巨额关税
Billionaire investors are in an ‎ ‎, watching and ‎ as tariffs roll on and the ‎ ‎ ‎.
Wall Street billionaires are not ‎ to being on the outside ‎ in. But that is where they find themselves after President Trump ‎ their ‎ to call off his tariff ‎ which they ‎ could ‎ the economy.
With the ‎ of ‎ mounting ‎ ‎ ‎, corporate ‎ have ‎ every angle — phone calls, ‎ media and ‎ a typically ‎ shareholder letter — to try to change Mr. Trump’s ‎.
The day after the ‎ announced his most ‎ round of tariffs ‎ week, ‎ executives from ‎ banks, ‎ Jamie Dimon of JPMorgan Chase, had a private meeting with Commerce Secretary Howard Lutnick organized by a ‎ ‎ in Washington. But Mr. Lutnick was not ‎ to ‎, three people briefed on the ‎.
Over the weekend, ‎ to Mr. Trump’s re-election ‎ tried a different ‎, ‎ their ‎ in calls to Susie Wiles, the White House ‎ of ‎, and Treasury Secretary ‎ Bessent, people ‎ with the calls said. Those ‎ also came up ‎.
By Monday, hedge ‎ billionaires — many of whom had been loud and proud ‎ of Mr. Trump’s second term — were going public with their cries.
“The global economy is being taken down because of bad math,” the hedge ‎ manager William A. Ackman ‎ Monday morning on X. He ‎, “The President’s ‎ need to acknowledge their ‎ before April 9th and make a ‎ before the President makes a big ‎.”
Others ‎.
Andrew Hall, a billionaire ‎ ‎ who has been critical of Mr. Trump in the past, ‎ Mr. Ackman on Instagram for being a Trump supporter who was speaking out about tariffs. “At ‎ he is ‎ to reverse himself and ‎ this stupidity,” Mr. Hall said of Mr. Ackman. “Where are the other ‘financial titans’? Why aren’t they speaking up?”
A few are doing so, though more ‎ and in ‎.
Mr. Dimon, the JPMorgan ‎, ‎ the ‎ on Monday morning with an investor letter saying the tariffs could ‎ ‎ and investor sentiment and ‎ ‎ ‎.
Mr. Dimon, who was ‎ to a ‎ of tariffs in the days after Mr. Trump’s election, stopped short of warning of a ‎ downturn but said the ‎ was “‎ many to ‎ a greater probability of a recession.”
Laurence D. Fink, chairman of the investing ‎ BlackRock, took a ‎ ‎ during a lunchtime address on Monday at the Economic Club of New York, warning that “the economy is ‎ as we speak.”
In his first public ‎ on the tariffs, Mr. Fink also ‎ that a ‎ ‎ of ‎ would feel the ‎ from tariffs, citing Barbie ‎ as an item that could ‎ more.
“Most C.E.O.s I talk to would say we are ‎ in a recession right now,” he told the ‎.
The state of ‎ has ‎ financiers who enjoyed ‎ to ‎-making by ‎ of both ‎. It is ‎ ‎ because during Mr. Trump’s first term, he ‎ hailed ‎ in the ‎ ‎ as a ‎ of ‎.
“I am not sure Wall Street can change the ‎’s ‎,” Robert Wolf, a ‎ chairman of UBS Americas, said. “But ‎ his ‎ and Mar-a-Lago friends are being ‎ with him on this ‎ approach.”
For a brief moment on Monday morning, it ‎ as if Wall Street had gotten ‎ to Mr. Trump. A report that he was ‎ to ‎ his tariffs ‎ the ‎ ‎ to swing ‎ from ‎ into positive territory.
But after the White House denied the report and Mr. Trump ‎ his commitment to the tariffs, the S&P 500 ‎ the day down another 0.2 ‎. The index ended Monday almost 18 ‎ ‎ its mid-February peak, ‎ on the ‎ of a ‎ ‎.
A White House spokesman, Kush Desai, said in a statement, “The Trump administration ‎ ‎ ‎ with business ‎, ‎ ‎ and everyday Americans, ‎ about ‎ ‎ ‎ like President Trump’s ‎ tariff action.
“The only ‎ ‎ ‎ President Trump’s ‎-making, however,” Mr. Desai ‎, “is the best ‎ of the American people — such as addressing the ‎ ‎ ‎ by our country running chronic ‎ deficits.”
The sell-off has been alarming on Wall Street because a ‎ ‎ ‎ that corporate ‎-making can go ‎, and that banks can lend to ‎ and ‎ without ‎ of ‎.
With the ‎ dropping at a pace not seen since the early days of the coronavirus pandemic, when everyday life ‎ to a halt, Wall Street executives have been ‎ their clients and investments for ‎ of ‎.
One ‎ investment bank, according to a person with ‎ of its ‎, was ‎ whether it would need to ‎ the ‎ of its ‎-dollar ‎ to so-called ‎ ‎ — ones typically ‎ ‎ bets — before its public earnings ‎. Banks are scheduled to begin reporting their ‎ ‎ on Friday.
Another big ‎ ‎ was the private ‎ for ‎, which has ‎ since the ‎ ‎ financial crisis in 2008 and typically ‎ financing risky ‎. Private lenders have ‎ argued that any ‎ to their system would be ‎, but these ‎ have also never been ‎ with a ‎ this size.
While the ‎ of Wall Street ‎ brokers can often ‎ ‎ from the ‎ of ‎ Americans, the arguments that finance executives are making to Mr. Trump have ‎ how his ‎ ‎ ‎ the economy, not just ‎.
The global financial crisis of 2008, which was set off by a drop in the ‎ of ‎ mortgage bonds, ‎ to a housing ‎ ‎ that ‎ for years. Many American businesses ‎ on ‎ in countries that are ‎ ‎ tariffs.
When financiers have ‎ to Trump administration ‎ in ‎ days, the ‎ has been that the White House is ‎ on ‎-term job creation in ‎, such as ‎, that have moved ‎. The ‎ turmoil, Trump administration ‎ have said, may be a necessary ‎ ‎ to allow for ‎-term change.
A ‎ executive acting as an ‎ between Wall Street and Trump ‎ said he had begun telling colleagues and competitors to stop trying to ‎ Mr. Trump to delay the tariffs and instead ask to ‎ ‎ ‎ for ‎ that would find it practically impossible to quickly ‎ ‎ ‎.
There are already ‎ that Wall Street has been ‎.
When some of the ‎ executives who met with Mr. Lutnick ‎ week ‎ for a phone call three days later, the ‎ centered not on how to sway Mr. Trump but on how to protect their banks from the ‎ that he was evidently committed to carrying out, two people briefed on the ‎ said.
On Tuesday morning, ‎ Mr. Ackman was ‎ his critique, writing in another X ‎ that he was supportive of Mr. Trump’s ‎ to ‎ tariffs to eliminate “‎ ‎ ‎.” Mr. Ackman ‎ that “doing so without giving time to make ‎ ‎ unnecessary ‎.”
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Wall Street Bursts With Anger as Tariffs Cause Wild Stock Market Swings | Leximory