Trump's tariffs disrupt the financial market, causing Wall Street to wail.

date
08/04/2025
avatar
GMT Eight
zIck and senior consultant Howard Lutnick maintain Trump's position, but there are also signs of divergence outside of Wall Street.Including Republican Senator Ted Cruz of Texas, who warned last week that there could be a "massacre" in next year's midterm elections. On Monday, he urged Trump to listen to the opinion of Elon Musk, co-founder of Tesla and billionaire. Musk said over the weekend that he hopes to ultimately establish a "free trade zone" between the United States and Europe. However, a report on Monday - Trump is reportedly considering a 90-day tariff suspension - still made the market aware of the intensity of tariff policies; within minutes, the stock market wiped out a 4% drop and instead rose 3%. But when the White House indicated that the peace of the trade war had not arrived yet, the stock market went back to the downward zone.

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