Wall Street Turns on Trump: Musk, Ackman, Druckenmiller Sound the Alarm

3 months ago 37

Khac Phu Nguyen

Mon, Apr 7, 2025, 12:23 PM 2 min read

Wall Street conscionable got large and it's not cheering. Tesla (NASDAQ:TSLA) CEO Elon Musk, Pershing Square's Bill Ackman (Trades, Portfolio), and hedge fable Stanley Druckenmiller (Trades, Portfolio) are present openly throwing punches astatine the Trump administration's tariff plans, informing they could trigger a full-blown marketplace meltdown. What started arsenic scattered disapproval has snowballed into a rare, nationalist revolt from immoderate of the astir influential voices successful investing. Even JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon, erstwhile cautiously optimistic, is waving a reddish emblem successful his latest letter: We're not successful Kansas anymore. Meanwhile, markets proceed their slide, with uncertainty mounting by the hour.

Elon Musk didn't clasp backmost mocking apical commercialized advisor Peter Navarro's Harvard credentials and calling retired the harm tariffs could inflict connected Tesla. Bill Ackman (Trades, Portfolio), usually 1 of Trump's loudest Wall Street backers, called for an contiguous 90-day tariff intermission to debar what helium described arsenic a self-induced, economical atomic winter. The attacks aren't conscionable affectional they're aimed astatine the administration's math. Both Musk and Ackman questioned the precise look utilized to warrant the tariffs, with Musk posting memes comparing the marketplace fallout to D-Day, portraying Commerce Secretary Howard Lutnick arsenic a wide calmly watching the chaos unfold.

The pushback isn't conscionable online theatrics. Stanley Druckenmiller (Trades, Portfolio) took to societal media to accidental helium does not enactment tariffs exceeding 10%, a nonstop situation to Treasury Secretary Scott Bessent his erstwhile protege who's present doubling down connected the strategy helium erstwhile dismissed. And the chorus is growing. Yardeni Research blasted Navarro's caller TV appearance, saying it made them gag connected [their] bagel. With fiscal leaders breaking ranks, capitalist sentiment is shifting fast. Confidence successful the administration's economical direction? Hanging by a thread.

This nonfiction archetypal appeared connected GuruFocus.