The widening criticism comes as Trump offers no indication he’s prepared to claw back a punishing trade overhaul set to begin on April 9. With the S&P 500 falling almost 20% from its most recent peak, the index is on the precipice of the first bear market since 2022. The Nasdaq 100 Index has already breached the level, and at Friday’s close was down about 22% from its most recent high.
Bill Ackman said the US is “heading for a self-induced, economic nuclear winter.” Boaz Weinstein predicted the “avalanche has really just started.” And Jamie Dimon warned it “may be disastrous in the long run.”
One by one, many of the biggest names across Wall Street — some of whom supported President Donald Trump during his election bid last year, and others who merely hoped for looser regulation and economic growth under his administration — are speaking out against his decision to unleash expansive tariffs worldwide, plunging global markets into chaos.
