Wall Street Breakfast Turmoil hits Capitol Hill; Trump threatens tariffs
Dec 20, 2024
Turmoil grips Capitol Hill as stock futures plummet amid political wrangling. Trump threatens tariffs on the EU unless they purchase more U.S. oil and gas. Meanwhile, the acquisition of Run:ai by Nvidia is approved, highlighting corporate maneuvers in tech. The podcast dives into the implications of these trade tensions and their effect on market sentiment, including rising concerns over government funding and the volatility of cryptocurrencies.
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Market Turmoil from Spending Bill Failure
- Stock index futures tumbled Friday after a Trump-backed spending bill failed in the House.
- This fueled government shutdown concerns, impacting investor confidence.
Government Shutdown Looms
- A potential government shutdown looms, driven by opposition from Trump and Musk to a bipartisan spending deal.
- Trump prefers this debate now to start the shutdown under a Democratic president.
Trump Threatens EU Tariffs
- Trump threatens tariffs on the EU unless they buy more U.S. oil and gas.
- Europe is the largest receiver of U.S. crude and liquid natural gas exports.