Acclaimed hedge fund manager Paul Tudor Jones appeared on CNBC’s Squawk Box this morning with an ominous message. While he expects the U.S. to cut its tariffs on China to 50%, he also expects the market to reach new lows.
On April 9, President Trump raised the tariff on imported Chinese goods to a significant 145%. In response, China raised the tariff on imported U.S. goods to 125%.
Paul Tudor Jones Calls for New Market Lows
“For me, it’s pretty clear. You have Trump who’s locked in on tariffs. You have the Fed who’s locked in on not cutting rates. That’s not good for the stock market,” said Jones.
The S&P 500 (SPX) hit a 52-week low of $4,835.04 last month before swiftly recovering higher. The benchmark index is down by nearly 4% year-to-date (YTD).
