Squawk on the Street Market Sell-Off on Wall Street After Historic Rally 04/10/25
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Apr 10, 2025 
Stephen Miran, Chairman of the White House Council of Economic Advisers, shares insights on the market's mixed reactions following a major rally triggered by tariff changes. He discusses the surprising consumer inflation data and its implications for trade and economic policy. The conversation also touches on the stock market's volatility, the challenges facing tech giants amid evolving trade dynamics, and the impact of consumer behavior shifts on various industries. Dive into the complexities of today’s financial landscape!
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Bond Market Power
- The bond market seemingly influenced President Trump's tariff policy reversal.
- This suggests the market holds significant power over policy decisions.
Tariff Impact
- A 10% tariff acts like a consumption tax on almost everything bought in the U.S. from elsewhere, except China.
- The U.S. has a near-total trade embargo with China.
Early Bird
- Jim Cramer woke up early to check futures, like many hedge fund managers.
- He recalls his early career, adjusting portfolios based on Japanese market changes.