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trump was warned of empty shelves and financial turmoil from tariffs and firing powell. his u-turn pushed stocks higher
https://www.cnn.com/2025/04/23/business/stock-market-dow-jerome-powell-fed-trump/index.html
president donald trump faced warnings from top advisers and ceos about potential financial chaos and empty store shelves due to his tariffs on china and threats to fire federal reserve chair jerome powell. however, after a meeting with retail ceos who expressed concerns about the economic fallout, trump shifted tone and backed down from his threats, prompting relief on wall street. this u-turn led to a surge in us markets, with the dow up 678 points or 1.73% on wednesday afternoon. treasury secretary scott bessent's comments that the trade war could take considerable time to rebalance also eased market concerns.
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