Shares of Wall Street firms rocked by new US tariff regime

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The story "Shares of Wall Street firms rocked by new US tariff regime" was covered 1 days ago by Financial Times, a news publisher based in United States.

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Financial Times 1d ago

Shares of Wall Street firms rocked by new US tariff regime - Financial Times

Quick Summary:

Now Ackman’s portfolio, which had recorded gains this year of more than 10 per cent by mid-February, has turned negative as some of his largest holdings, such as call options on sportswear maker Nike, have plunged in value.

Bill Ackman, the billionaire founder of hedge fund Pershing Square, had proclaimed Trump as leading the most “pro-growth” and “pro-business” administration in recent memory and expressed bullishness on markets as the president returned to office.

Some industry executives also warned the recent market slump has caused unlisted assets to soar as a percentage of the overall portfolios of large pensions, creating newfound risk they will reduce private exposure to rebalance.