The stock market's response to Trump's "Liberation Day" tariff announcement was "probably the most influential force to date" in tempering Trump's policies, said Terrence Guay, professor of international business at Pennsylvania State University. Even more than the stock market, "the bond market is a stronger force and this is the primary driver" of Trump's shift, Durnev said. The combination of these factors means investors are beginning to realize that "the US may not be, under this administration, the stable environment we've seen for decades," Guay said.
Author: AFP
Published at: 2025-04-30 22:03:22
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