Squawk on the Street SOTS 2nd Hour: Stocks Fall, Trump Vs. Powell, and Apollo’s Recession Odds 4/21/25
Apr 21, 2025
Torsten Slok, Chief Economist at Apollo Global Management, dives into the looming possibility of a 90% chance of U.S. recession this year. He discusses the current stock market downturn and the implications of President Trump's push against Fed Chair Powell. The conversation also covers the economic challenges small businesses face due to recent policies and tariffs. Investors are given insights into inflation, job cuts, and the strained relations impacting trade dynamics, all while navigating a pessimistic market outlook.
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Small Businesses Suffer Tariff Impact
- Small businesses are the hardest hit by high tariffs on Chinese imports.
- They lack the capital to absorb costs compared to large businesses, risking bankruptcies and layoffs.
Policy Tweets Drive Market Volatility
- Market volatility is driven heavily by geopolitical and policy uncertainty.
- President Trump's posts and tariff issues cause real-time reactions impacting currency and stocks.
Netflix Leads Amid Valuation Concerns
- Netflix dominates streaming despite fiscal pressures and competition.
- Valuation concerns temper buy ratings despite strong earnings and growth guidance.