Summary
- Morgan Stanley diagnosed that President Trump's tariff policy is causing uncertainty in the market at the level of early COVID-19.
- It stated that this negatively affects corporate earnings forecasts and makes long-term planning difficult.
- It was reported that Bitcoin showed an upward trend, surpassing $88,000, following Trump's call for a rate cut.
Global investment bank Morgan Stanley has diagnosed that U.S. President Donald Trump's tariff policy is having a negative impact on the market at the level of the COVID-19 situation.
On the 21st (local time), according to Walter Bloomberg, Morgan Stanley stated in a report that "Trump's tariff policy is unpredictable" and "the market is facing uncertainty similar to the early days of COVID-19." It added, "This negatively affects corporate earnings forecasts and makes long-term planning difficult."
Meanwhile, Trump has strongly criticized Jerome Powell, the chairman of the U.S. Federal Reserve, urging an immediate rate cut through Truth Social today. As a result, the value of the U.S. dollar and the stock market fell. On the other hand, Bitcoin rose slightly, surpassing $88,000.
Meanwhile, Citigroup predicted that the Federal Reserve would cut rates in June.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
