Wall Street Billionaires Criticize Trump's Tariff Plans Amid Market Turmoil

Prominent Wall Street figures, including Elon Musk and Jamie Dimon, are openly criticizing President Trump's sweeping tariffs, which they warn could lead to a significant market downturn and economic instability. Musk has mocked the administration's rationale for tariffs, while Ackman called for an immediate pause to prevent what he termed a 'self-induced, economic nuclear winter.' Dimon shifted from a previously optimistic stance to express concerns about potential recession and economic slowdown due to the tariff policies, highlighting a growing unease among investors. The S&P 500 is nearing a bear market, reflecting widespread anxiety about the long-term impacts of the tariffs on economic growth and market confidence. Critics argue that Trump's approach may jeopardize America's economic alliances and lead to higher inflation. As the situation evolves, the sentiment on Wall Street has shifted from support to urgent calls for policy reevaluation.