Wall Street billionaires turn on Trump amid Wall Street chaos

Bill Ackman said that the United States “are heading towards a self-induced economic nuclear winter”. Boaz Weinstein has predicted that “the avalanche has just begun”. And Jamie Dimon warned that “he could be disastrous long -term”.

One by one, many of the greatest names of Wall Street – some of which supported President Donald Trump during his electoral offer last year, and others who simply hoped for a freer regulation and economic growth under his administration – are talking against his decision to unleash broad rates all over the world, immersing global markets in chaos.

The enlarged criticism comes when Trump offers no indication that is ready to react a revision of the punitive trade that will begin on April 9th. With the S&P 500 that falls almost 20 % from its most recent peak, the index has been on the precipice of the first bear market since 2022

Dimon, CEO of JpMorgan Chase & Co., the largest US bank, used his annual shareholder letter up close to asking a rapid resolution to the uncertainties unleashed by commercial policy and warned against a potentially disastrous fragmentation of the long -term economic alliances of America.

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“Fasically this problem is solved, better because some of the negative effects increase cumulatively over time and would be difficult to reverse,” wrote Dimon in the letter on Monday. While the comments have not criticized Trump himself, they are a transition from the support or a careful silence that Wall Street has largely deployed by the elections.

Weinstein, founder of Saba Capital Management, said on Friday that the commercial war threatened to speed up the sealing in the corporate bonds and stimulate a wave of bankruptcies. The Oakree Capital Management Howard Marks co-resident declared on Friday in a Bloomberg television interview that the latest rates imposed by President Trump contributed to triggering a waterfall of unknown unknown factors Daniel Loeb, founder of the third point, said on X that “will be a test of the administration’s judgment against the ideology on how he will solve this” in the next few days.

“I firmly believe that launching rates on April 9 against the whole world – in excess in excess compared to what is accused – is an error”, the founder of Pershing Square and the vocal supporter of Trump, wrote on X, saying in a separate post that “we should start bunking down” if a “timeout” is not called on the numbers.

A 90 -day break is needed to give Trump the time to “resolve our historically unjust global commercial position carefully and strategically,” wrote Ackman.