With Congress acquiescing to all of Trump’s wishes and the courts stacked in his favor, many are concerned about an unbridled president. To the rescue comes the market.
By Sergei Klebnikov and Matt Schifrin, Forbes Staff
This past Thursday, President Trump did it again–and so did the financial markets. In a Truth Social post, Trump said that he would be carrying through next week on his previously delayed threat to slap 25% tariffs on Canadian and Mexican goods because (he said) these neighbors weren’t doing enough to stop drugs at the border. Then, in the oval office later, he said China would get hit with an additional 10% levy—taking the total to 20%. The market’s response was swift and unambiguous. The S&P 500 closed down 1.6% for the day, taking it into negative territory for 2025, while the tech-heavy NASDAQ closed down 2.8%, off 3.8% for this year.
What the erratic…
