Stocks Rebound Fizzles as Trump Goes on Offensive: Markets Wrap

Joanna Shen of JPMorgan Asset Management says current market volatility is largely due to geopolitical tension, adding that “we could be one tweet away from everything being reverted.”Source: Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Cristin Flanagan

April 16, 2025 at 10:52 PM UTC

Updated on

April 17, 2025 at 8:21 PM UTC

This article is for subscribers only.

A rebound in US stocks evaporated this week after Chair Jerome Powell pushed back on the idea of the Federal Reserve stepping in to bolster markets, rankling President Donald Trump who touted a smattering of deals Thursday.

The S&P 500 slumped 1.5% over the four-day span, briefly trimming losses after Trump said there would be a trade deal with the European Union, without giving details or a timeline on when an agreement would be reached. He was more decisive on a critical US-Ukraine minerals accord, saying that a deal would be signed next week. The gains eventually melted away and choppy trading ahead of Friday’s holiday left the tech-heavy Nasdaq 100 with a 2.3% weekly loss.