Treasury Secretary Bessent Links Market Turmoil to Tech Stock Sell-Off, Not Trump’s Tariffs
Treasury Secretary Bessent addressed recent market fluctuations, attributing them primarily to a tech stock sell-off rather than the tariffs imposed by former President Donald Trump. Speaking on CNBC, Bessent clarified that while the tariffs have stirred market concerns, the significant drop in tech stocks, including Apple, has been the main driver of the current market instability.
The New York Times reported on the specific impact of Trump's tariffs on tech giants like Apple, noting that the increased costs on imported components could lead to higher prices for consumer electronics such as iPhones. This situation has led to a noticeable decline in stock prices for tech companies, as highlighted by The Hill and The Wall Street Journal, which also covered the broader implications of these tariffs on the technology sector.
Bessent's comments come at a time when investors are closely watching both policy decisions and market trends, trying to navigate through the uncertainties posed by international trade policies and their direct impact on key sectors like technology.
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