Treasury Secretary Bessent says market woes are more about tech stock sell-off than Trump's tariffs

World leaders hold off on retaliatory tariffs as Bessent urges patience

Treasury Secretary Scott Bessent is warning the world against retaliation as news of “Liberation Day” tariffs spreads. “My advice to every country right now is do not retaliate,” he told Fox News shortly after the announcement. “Sit back, take it…

Treasury Secretary Bessent blames Trump tariff sell-off in markets on deflating AI bubble—‘that’s a Mag 7 problem, not a MAGA problem’

U.S. equity markets lost roughly $1.5 trillion after President Trump announced sweeping punitive import duties, but the administration is more interested in bringing down borrowing costs to stave off a potential sovereign debt doom loop. When President Donald Trump hoisted a spreadsheet listing all the punitive tariffs he planned to levy on the rest of the world late Wednesday, investors had one thing in mind—bolt for the exits.  Futures contrac…

Treasury Secretary Bessent says market woes are more about tech stock sell-off than Trump's tariffs

"The Nasdaq peaked on DeepSeek day so that's a Mag 7 problem, not a MAGA problem," Bessent said.

Treasury Secretary Bessent says market woes are more about tech stock sell-off than Trump's tariffs - Los Angeles Weekly Times

Treasury Secretary Scott Bessent speaks to reporters outside the West Wing after doing a television interview on the North Lawn of the White House on March 13, 2025 in Washington, DC.  Andrew Harnik | Getty Images Treasury Secretary Scott Bessent said Wednesday the sell-off in the stock market is due more to a sharp pullback in the biggest technology stocks instead of the protectionist policies coming from the Trump administration. “I’m trying …

Bessent spoke after Trump released a 10% universal base tariff for many trading partners

STOCK MARKET: Treasury Secretary Bessent says market woes are more about tech stock sell-off than Trump’s tariffs – U-S-NEWS.COM

Treasury Secretary Scott Bessent speaks to reporters outside the West Wing after doing a television interview on the North Lawn of the White House on March 13, 2025 in Washington, DC.  Andrew Harnik | Getty Images Treasury Secretary Scott Bessent said Wednesday the sell-off in the stock market is due more to a sharp pullback in the biggest technology stocks instead of the protectionist policies coming from the Trump administration. “I’m trying t…