Treasury Secretary Bessent blames Trump tariff sell-off in markets on deflating AI bubble—‘that’s a Mag 7 problem, not a MAGA problem’

Quick Summary:

Bessent appears to be more interested in bringing down borrowing costs to stave off a potential sovereign debt doom loop than in the $1.5 trillion drop in equities.

Spooked by Trump’s punitive across-the-board tariffs, markets are pricing in the growing possibility of a recession.

Interest payments on the national debt have already eclipsed annual defense spending, hitting $1 trillion last year.

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Article Details

Author / Journalist: Christiaan Hetzner

Category: EconomyBusiness

Markets: United States

Topics: Donald Trump Tariffs and trade Manufacturing A.I. U.S. Department of the Treasury Magnificent 7 DeepSeek Inflation Economy Recession

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-03 @ 12:28:15 (1 days ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 605 words

Reading Time: 4 minutes read

Sentences: 4 lines

Sentence Length: 152 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 27563411

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About Fortune

Main Topics: EconomyBusiness

Official Website: fortune.com

Update Frequency: 27 posts per day

Year Established: 1929

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

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Publication Timezone: GMT +8:00

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Publisher ID: #95

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