From CNBC: 2025-04-10 12:39:00

Jamie Dimon, CEO of JPMorgan Chase, testified during a Senate hearing on Wall Street firms. President Trump’s tariff announcement caused unease, with stocks dropping and bond sell-offs. Trump rolled back tariffs, sparking a stock rally. Dimon’s warning helped sway Trump’s decision, showing Wall Street’s influence on the administration.

Trump’s tariff policy raised fears of a global financial crisis as U.S. bond yields rose. Market actions served as a check on Trump’s policies. The bond market sell-off indicated stress and potential intervention by the Federal Reserve. Wall Street executives worried about their influence under Trump’s administration.

Banks, optimistic after Trump’s election, now face uncertainty. Bank stocks plummeted on recession fears. Deal-making slowed amid the chaos discount. JPMorgan’s upcoming earnings report will provide insight on the economy. Markets remain volatile with ongoing trade disputes and uncertainty. Market experts warn against repeated crises.

Read more: Trump pivot on tariffs shows Wall Street still has a seat at his table