Elon Musk cutting $2trn in US spend is negative for markets: Chris Wood

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Elon Musk cutting $2trn in US spend is negative for markets: Chris Wood - Business Standard

Quick Summary:

Closer home, the fall in Indian stocks, especially the mid-and small-caps, he said, is healthy and called it a 'natural correction' after a sharp run.

So far, US stocks have proved remarkably resilient in the face of rising bond yields.

The US government, meanwhile, had spent $6.75 trillion in fiscal year 2024 (October 2023 to September 2024) according to official figures from the US Treasury.