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JPMorgan: Market Sell-Off Is a Warning to Trump
JPMorgan Asset Management Chief Investment Officer Bob Michele said that the market sell-off is a signal to the Trump administration, urging it to take action to restore calm, just as officials did after last year's "D-Day tariffs" caused investor unease.
"Currently, the market is a bit chaotic, and there is indeed some panic sentiment," Michele said. "The market experienced sharp fluctuations in April, but many issues were resolved afterward, and the market regained its composure. We need to hear similar messages." On Tuesday, the S&P 500 erased its gains for the year so far, with bonds and the dollar also declining. Previously, Trump threatened to impose tariffs on several European countries opposing his annexation of Greenland.