- Title: 'The worst policy mistake in 100 years' - Analyst on Trump tariff plan
- Date: 4th April 2025
- Summary: NEW YORK, NEW YORK, UNITED STATES (APRIL 4, 2025) (REUTERS) (SOUNDBITE) (English) WEDBUSH SECURITIES, MANAGING DIRECTOR AND SENIOR EQUITY RESEARCH ANALYST, DAN IVES, SAYING: “I mean, that formula is a formula that would have been laughed at in high school if you presented it to your teacher. It's essentially a trade deficit morphed into a tariff percentage in some concocte
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- Keywords: Donald Trump analyst tariffs
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- Country: US
- Topics: Economic Events,North America,Equities Markets
- Reuters ID: LVA006429004042025RP1
- Aspect Ratio: 16:9
- Story Text:Volatility measures across global financial markets jumped on Friday (April 4) and Wall Street's top "fear gauge" soared to an eight-month high as China imposed fresh tariffs on all U.S. goods in response to President Donald Trump's sweeping levies.
“The tariff war has begun there and China's not just going to sit down," said Dan Ives, senior equity research analyst at Wedbush Securities.
"Ironically, this is the best thing that's ever happened to China," he continued. "China tech is going to steamroll ahead. U.S. tech is the one that continues to be hamstrung, and I think this is something where it's the worst policy mistake in 100 years."
The CBOE Volatility Index, an options-based gauge of stock investors' anxiety about the market's near-term outlook, rose as much as 15.54 points to a 45.56, its highest since August.
Investors, who have been battered by a sharp selloff this year - the S&P 500 is down about 11% for the year - have been keeping an eye on the volatility gauge as an indicator of market stress.
“It's an economic Armageddon that was unleashed by Trump," said Ives. "We believe this could set tech stocks and the tech industry in the U.S. back potentially a decade.”
(Production: Brendan McDermid, Kyoko Gasha) - Copyright Holder: REUTERS
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