Unusual Whales

US Treasury Secretary Bessent: Wall Street has grown wealthier for four decades. 'For the next four years, it's Main Street's turn'

U.S. Treasury Secretary Scott Bessent said Wednesday that his department will take on a more prominent role in shaping banking regulations, with the aim of better balancing regulatory costs and benefits while ensuring that financial institutions can support economic growth. In prepared remarks delivered at an American Bankers Association

EU adopts tariffs on €21 billion of US goods in metals dispute

EU Approves €21 Billion in Tariffs on U.S. Goods in Retaliation for Trump’s Metal Duties The European Union has approved retaliatory tariffs on approximately €21 billion ($23.2 billion) worth of U.S. goods, responding to the 25% duties President Donald Trump imposed last month on the bloc’

JPMorgan, JPM, CEO Jamie Dimon has said: A recession in the United States is now a "likely outcome"

In an interview with Fox Business’s Maria Bartiromo, JPMorgan Chase CEO Jamie Dimon said a recession is a “likely outcome,” though he deferred to his team of economists on the specifics. “I am going to defer to my economists at this point, but I think probably. That’s a

European Union approves retaliatory tariffs between 10% and 25% on US goods

EU Approves 25% Tariffs on Wide Range of U.S. Goods in Response to Trump’s Trade Measures EU member states on Wednesday approved a 25% tariff on a broad selection of American products—ranging from almonds and orange juice to poultry, soybeans, steel, aluminium, tobacco, and yachts—in direct

Effective total on Chinese goods will hit 117% after today

The U.S. tariff rate on Chinese imports will surge to a record 104% at 12:01 a.m. ET on Wednesday, a White House official confirmed to CNBC. The announcement follows President Donald Trump’s Monday warning that he would raise existing tariffs on China by 50% unless Beijing

Higher reciprocal tariffs will go into effect tomorrow, US Trade Representative Greer has said

Higher reciprocal tariffs will go into effect tomorrow, US Trade Representative Greer has said. White House spokesperson Levitt confirmed that the United States has officially imposed an additional 50% tariff on Chinese imports, bringing the total tariff rate to an unprecedented 104%. Further trade restrictions are scheduled to take effect

White House says 104% tariffs on China went into effect today

White House spokesperson Levitt confirmed that the United States has officially imposed an additional 50% tariff on Chinese imports, bringing the total tariff rate to an unprecedented 104%. Further trade restrictions are scheduled to take effect tomorrow, April 9. The announcement follows through on President Donald Trump’s warning issued

Treasury Secretary Bessent says China's escalation was 'big mistake,' country playing with 'losing hand'

Treasury Secretary Scott Bessent said Tuesday that the United States holds a significant advantage over China as the two nations escalate their trade dispute, arguing that Beijing's latest tariff response is a strategic misstep. “I think it was a big mistake, this Chinese escalation, because they’re playing

Senator Ron Wyden announces a bipartisan resolution to end Trump's global tariffs

Democratic Senator Ron Wyden announced Tuesday that he will introduce a resolution to repeal the sweeping global tariffs announced by President Donald Trump last week, setting up a direct test of political support for the president’s escalating trade war. Wyden’s move would force Senate Republicans to publicly take

South Korea has stated it will not retaliate against U.S. tariffs, is seeking to negotiate a new trade agreement, and will not join China or Japan in efforts to counter the U.S. measures

U.S. President Donald Trump said he had a “great call” with South Korea’s acting President Han Duck-soo on Tuesday, during which they discussed tariffs, shipbuilding, and potential energy deals, just one day before a planned 25% tariff on South Korean exports is set to take effect; Trump added

Ukraine's Zelenskiy says the fought six Chinese soldiers in eastern Ukraine, and took two of them prisoner

Zelensky Claims Chinese Troops Are Fighting for Russia, Urges U.S. and Global Response Ukrainian President Volodymyr Zelensky has claimed that Chinese soldiers have joined Russia’s military campaign in Ukraine, calling for an international response—particularly from the United States. Speaking Tuesday, Zelensky said Ukrainian forces had encountered and

Elon Musk made direct appeals to Trump to reverse the new tariffs

Elon Musk Urged Trump to Reverse Tariffs — But Was Unsuccessful, Report Says Tech billionaire and Tesla CEO Elon Musk made a direct appeal to President Donald Trump over the weekend in an effort to reverse newly announced tariffs, but the attempt was unsuccessful, The Washington Post reported Monday, citing two

Ken Griffin said Donald Trump’s latest tariffs amount to a hefty tax on middle-class families and are a “huge policy mistake” by the administration

Ken Griffin Slams Trump Tariffs as “Huge Policy Mistake,” Warns of Long-Term Harm to Families and U.S. Leadership Billionaire investor Ken Griffin criticized President Donald Trump’s latest round of tariffs, calling them a “huge policy mistake” and likening them to a heavy tax burden on American families. “It’

Apple, AAPL, plans to shift more iPhone production to India to avoid U.S. tariffs on Chinese goods

Apple Looks to India as Trump’s Tariffs on China Push Costs Higher Apple is reportedly ramping up its iPhone production in India as a way to sidestep the steep tariffs imposed by President Donald Trump on Chinese goods, according to The Wall Street Journal. The potential shift would deal

US bans personnel in China from romantic, sexual relations with Chinese citizens

U.S. Bans Romantic Relationships Between Government Personnel and Chinese Citizens The U.S. government has implemented a new policy prohibiting American officials in China—including government personnel, contractors with security clearances, and their family members—from engaging in romantic or sexual relationships with Chinese nationals, The Associated Press has

BlackRock, BLK, CEO Larry Fink has said: "We are probably in a recession right now"

BlackRock CEO Larry Fink Warns of Potential 20% Market Drop, Says U.S. May Already Be in Recession BlackRock CEO Larry Fink said Monday that the stock market could still fall by another 20%, warning that the U.S. economy is showing clear signs of weakness. Speaking at the Economic

EU Commission proposes 25% tariff on US goods effective May 16

EU Proposes 25% Counter-Tariffs on U.S. Goods in Response to Trump’s Metal Duties The European Commission has put forward a proposal to impose 25% tariffs on a broad array of U.S. goods, in retaliation for President Donald Trump’s tariffs on steel and aluminium, according to a

United States Secretary of the Treasury Scott Bessent has seemed to suggest that the federal workforce fired recently "will give us the labor we need for new manufacturing"

Treasury Secretary Outlines Plan to Shift Laid-Off Federal Workers Into Manufacturing Jobs Treasury Secretary Scott Bessent said the Trump administration intends to grow U.S. manufacturing employment by redirecting laid-off federal workers into factory jobs—part of a broader strategy combining steep import tariffs with a slimming down of the

Trump is threatening additional 50% tariffs on China

Trump Warns of 50% Tariffs on China if Retaliatory Measures Aren’t Reversed Donald Trump has issued a stark warning to China: if it doesn’t roll back its recently imposed 34% retaliatory tariffs by Tuesday, the U.S. will respond by raising tariffs on Chinese goods by an additional

No one is at White House is aware of a 90 day tariff pause

Market Turbulence Deepens Amid Recession Fears Tied to Trump’s Tariffs Financial markets are seeing another wave of intense volatility as investor anxiety mounts over the economic fallout from Donald Trump’s escalating trade war. In Europe, major indices are firmly in negative territory late in the session. London’s

This is now the worst three-day performance for the S&P 500 since October 1987

Wild Swings Rock U.S. Markets as Volatility Surges On Monday morning, the S&P 500 experienced a dramatic whipsaw, dropping as much as 4.71% before swiftly reversing course and rallying up to 3.40% — all within roughly 35 minutes. This nearly 8-point intraday swing marked the index’

Chinese Stocks have now decreased more than -12%, the largest crash since the Great Financial Crisis

Global markets sank on Monday, intensifying a broader sell-off sparked by US President Donald Trump’s trade offensive and China’s forceful retaliation to surprise tariff hikes. Germany’s DAX dropped 9% at the open, while London’s FTSE 100 fell roughly 5%. European indices, overall, were holding up slightly

Canada's Prime Minister Carney: The global economy is fundamentally different today than it was yesterday

Liberal Leader Mark Carney said Thursday that President Donald Trump’s sweeping tariffs on nearly every trading partner risk “rupturing the global economy,” undermining growth, and causing serious harm to workers and businesses both in Canada and around the world. Carney condemned the tariffs on Canadian exports as “unjustified, unwarranted,

Chinese government has started conducting “stock market stabilizing operations”

Central Huijin Investment, a division of China’s US$1.2 trillion sovereign wealth fund, stepped in to buy exchange-traded funds (ETFs) on Monday, marking a direct intervention in the country’s stock market as it reels from the impact of retaliatory U.S. tariffs. The firm announced on its

JPMorgan, JPM, cuts S&P 500 target to 5,200 from 6,500, puts worst case at 4,000

JPMorgan made the most dramatic revision to its S&P 500 outlook, slashing its year-end target from 6,500 to 5,200—a 20% cut. If realized, that would represent only a modest 2.48% gain from current levels. The firm also warned of a worst-case scenario in which