Treasury Secretary attributes market drop to China's AI, not Trump's policies

From Yahoo Finance: 2025-04-04 14:51:00

U.S. Treasury Secretary Scott Bessent attributes recent stock market plunge to China’s DeepSeek AI tool, not Trump’s policies. Stocks fell 10% after aggressive tariff announcement. DeepSeek launch caused $600B loss in January, market recovered until late February. S&P lost 14% since Feb. 19, erasing $10 trillion in market value.

Bessent and Commerce Secretary Lutnick downplay market plunge, despite Trump’s new tariffs. Trump retweeted claims he’s crashing the market. Bessent reaffirms strong dollar policy, denies tariff drive to weaken dollar. Dollar lost 6% value since Trump’s inauguration. Bessent says only Trump and himself speak for U.S. on dollar policy.



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