- After the worst sales on Wall Street Since the early days of the Covid-19 disaster, Treasury Secretary Scott Bessent said he was pleased with the market's ability to handle large numbers and noted that Wall Street has a history of contempt for President Donald Trump, whose tax policies increase fear the economy will suddenly be thrown.
Treasury Secretary Scott Bessent said the market capacity to handle large numbers is calming and undermining large stock sales as a temporary effect.
In Interview with NBC's Meet the Press That was thrown on Sunday, he also gave There is no indication that President Donald Trump will return From this sharp tariff and say there should be no economic decline.
That's despite the price of Wall Street JPMORGAN Warning Taxes will cause GDP to decline This year.
“One thing I can tell you, as a treasurer, what I am so interested in the market infrastructure, that we had a Friday record. And everything works very well so that Americans can find great comfort in that,” Bessent told NBC.
Friday, The average Dow Jones factories fell 5.5%, losing 2,231 pointsThe S&P 500 sank 6%, and Nasdaq fell 5.8%, sending a 20%more technological confidence under its latest condition and put it in the Bear Market area.
That followed the same market killings on Thursday. The two sessions canceled $ 6 trillion in the market market and marked the worst sales since the first days of the Covid-19 disaster in 2020.
Bessent said “we get these short -term effects of the short -term market,” adding that Wall Street has always despised Trump, showing a decrease in stock after unexpected 2016 elections.
“And it turned out to be the president of the business more than a century, perhaps in the history of the country. And we continued to return after inflation for the next four years,” Bessent said.
When asked what he would say to the Americans who plan to retire and they just saw their portfolios making great strides, he threw away as a “false story.”
“I think they don't look at the day's decline for what is happening,” BESSENT said. “And you know, of course, many Americans don't have everything in the market.”
For those with 401 accounts (k), most have 60% of their shares and 40% in bonds, explained, adding that those 60/40 accounts are less than 5% or 6% per year.
“If you look at day by day, week to week, it's very dangerous. For a long time, it's a good investment,” BESSENT said.
For those who have decades in front of them to retirement, experts say the best course of action is to take a breath and Leave their 401 (k) alone.
This story was previously shown Bahati.com
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