Paul Tudor Jones: “For me, it’s pretty clear. You have Trump who’s locked in on tariffs. You have the Fed who’s locked in on not cutting rates. That’s not good for the stock market,”

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  • “We’ll probably go down to new lows, even when Trump dials back China to 50%,” Jones told CNBC’s “Squawk Box.”
  • The widely followed investor’s bearish comments came after Trump’s rollout of the highest levies on imports in generations shocked the world last month, triggering extreme volatility on Wall Street.

Billionaire hedge fund manager Paul Tudor Jones said Tuesday that stocks are bound to hit new lows even if President Donald Trump tones down his aggressive tariffs on China.

“For me, it’s pretty clear. You have Trump who’s locked in on tariffs. You have the Fed who’s locked in on not cutting rates. That’s not good for the stock market,” Jones said on CNBC’s “Squawk Box.” “We’ll probably go down to new lows, even when Trump dials back China to 50%.”

The widely followed investor’s bearish comments came after Trump’s rollout of the highest levies on imports in generations shocked the world last month, triggering extreme volatility on Wall Street. The S&P 500 suffered a severe sell-off but has since recouped much of the losses, sitting 8% below its all-time high.

https://www.cnbc.com/2025/05/06/paul-tudor-jones-says-stock-market-will-hit-new-lows-even-if-trump-cuts-china-tariffs-to-50percent.html