In financial markets, the Hong Kong dollar is known as a “widow-maker”, a ruinous trade that inflicts painful losses on successive generations of investors. While betting against Japanese government bonds has been the most notorious widow-maker trade, challenges to Hong Kong’s currency peg to the US dollar date back to the 1997-98 Asian financial crisis…
In This Story Shaken by geopolitical shocks, the S&P 500 was flat last week and the Nasdaq nosed just into the red — but the Dow Jones Industrial Average finished significantly lower, weighed down by a double blow from UnitedHealth (UNH) and Nvidia (NVDA). How Trump’s tariffs could make your iPhone cost $3,500 UnitedHealth slashed…
Pershing Square CEO Bill Ackman — who disclosed in a Thursday (April 17) post on X that the firm owns a 19.8% stake Hertz — said in the post that Hertz and Uber would be ideal partners to roll out a fleet of autonomous vehicles (AVs). Calling the idea a “fun thought experiment,” Ackman said in the post that such a…
WASHINGTON (AP) — Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed off his tariffs on most nations for 90 days even as he further jacked up the tax rate on Chinese imports to 125%. It was seemingly an attempt to narrow what had been an unprecedented trade war between the U.S….
President Donald Trump on Wednesday announced via a social media post a planned 90-day pause in his aggressive tariff plan against some countries, sending ripples through the business community. The market, which had plummeted following news of the president’s trade strategy, surged in response to the planned pause, while industry leaders from across the political…
Photo: Scott Olson / Staff (Getty Images) Even the world’s most prominent Trump supporter, Elon Musk, is displeased with the tariffs. Musk, who runs the Department of Government Efficiency (DOGE), spent the weekend criticizing the administration’s top trade adviser, Peter Navarro, and amped up his criticism Tuesday, saying Navarro is “dumber than a sack of…
Washington: US President Donald Trump’s tariff move has drawn a rare pushback from Bill Ackman, a billionaire investor among his top supporters. He has listed the perils of tariffs, the most significant of which is a blow to the US reputation as a trading partner. Ackman also claimed the formula used by the Trump administration…
Wall Street just got loud and it’s not cheering. Tesla (NASDAQ:TSLA) CEO Elon Musk, Pershing Square’s Bill Ackman (Trades, Portfolio), and hedge legend Stanley Druckenmiller (Trades, Portfolio) are now openly throwing punches at the Trump administration’s tariff plans, warning they could trigger a full-blown market meltdown. What started as scattered criticism has snowballed into a…
Topline Billionaire supporters of President Donald Trump—including Elon Musk—spoke out Monday morning and issued warnings about the economy as global stock markets plunged further in response to the escalating trade war. Elon Musk arrives for the inauguration of U.S. President-elect Donald Trump in the U.S. Capitol … More Rotunda on January 20 in Washington, DC….
Bill Ackman, CEO of Pershing Square Capital Management, speaks during an interview for an episode of “The David Rubenstein Show: Peer-to-Peer Conversations,” in New York on Nov. 28, 2023. Jeenah Moon | Bloomberg | Getty Images Billionaire investor Bill Ackman said that America was heading toward a self-inflicted “economic nuclear winter” as a result of…