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Trump's tariff increase could cost U.S. households $700 billion, the largest de facto tax hike since LBJ needed to finance the war in Vietnam.

News of the day for April 4, 2025

(Bloomberg) -- Wall Street forecasters are turning ice cold on US equities, telling investors to refrain from buying the selloff as President Donald Trump’s historic trade war raises the specter of recession.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersMetro-North Is Faster Than Acela on NYC-New Haven Route After Signal UpdatesLocal Governments Vie for Fired Federal WorkersLondon Clears Final Hurdle for More High-Speed Trains to EuropeWhat Would ‘Transportation Abun

Short-term value buyers emerge while long-term holders show growing conviction despite market volatility.

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Global money market funds saw massive inflows in the week ending April 2 as investors grew cautious over U.S. President Donald Trump's aggressive trade policies, which are heightening fears of a global slowdown and prompting some economists to revise their recession projections upward. Money market funds, often seen as safe havens during times of economic distress, attracted $30.26 billion in inflows during the week, as Trump introduced sweeping reciprocal tariffs on trading partners, intensifying a trade war and amplifying fears of a global economic slowdown.

Credit ratings giant S&P Global has said it is reviewing all its macro economic forecasts in the wake of Donald Trump's sweeping world trade tariffs this week, a move likely to fuel concerns of a renewed wave of credit score downgrades. The firm, whose ratings judge the creditworthiness of thousands of companies and more than 130 countries, said the scope and size of U.S. President Trump's new tariffs had exceeded most expectations.