The White House has a higher tolerance for a selloff in stocks than market participants may think. That's according to Soros Fund Management Chief Investment Officer Dawn Fitzpatrick. Fitzpatrick spoke with Bloomberg's Erik Schatzker at the Bloomberg Invest event in New York. Her remarks came as stocks got hammered across the board. Concerns about the impacts of a trade war on the global economy spurred a flight to short-term bonds, gold and haven currencies. Oil slumped. From New York to London and Tokyo, equities fell — with the S&P 500 erasing its $3.4 trillion post-election rally. That was after the US imposed the largest set of new tariffs in nearly a century, slapping levies on a broad swath of goods from China, Canada and Mexico that spurred swift reprisals. The trade tension fueled worries about growth, with traders fully pricing in three quarter-point rate cuts by the Federal Reserve in 2025. Stocks fall amid tariff worries. The moves — before President Donald Trump’s address Tuesday night to Congress — mark a new phase in Trump’s broadening economic and diplomatic reset of America’s place in the world. Treasury Secretary Scott Bessent projected confidence in the tariff plans — even as the stock market slumped. If Wall Street learned one thing during Trump’s first term as president, it’s that the stock market is a way he keeps score. The theory was that the president’s penchant for using equities as a report card meant any policy that rattled markets would cause him to revise the plans. But with stocks tanking, investment pros are starting to question if there’s a “Trump Put” after all. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET WATCH HERE: http://bit.ly/3vTiACF
