Dozens of high-profile investors and tech founders initially supported President Donald Trump, hoping for tax breaks, fewer regulations, and lowered inflation. However, after Trump's 10 percent tariff policy was implemented, some billionaires who backed him began to speak out against it, considering it an "act of war" that threatens America's financial and security dominance. They were shocked by the scale and rollout of the tariffs, which had a significant impact on their personal portfolios, including one Trump ally who lost $130 billion.

Liberal pundit Andrew Ross Sorkin suggested on-air that Trump officials may have cashed in on the stock market plunge caused by his tariffs announcement, possibly engaging in insider trading or shorting the market. He asked Securities and Exchange Commission acting chairman Mark Uyeda what the SEC's responsibility would be if such behavior occurred, with Uyeda vowing to enforce the law regardless of who was involved. Sorkin then asked whether the same rules would apply to government officials with advanced knowledge of Trump's tariff plans, prompting further discussion on the topic.

Keir Starmer vowed that Labour would stick to its fiscal rules despite long-term UK borrowing costs reaching their highest level since 1998. The yield on a 30-year gilt rose to 5.518% amid global financial market carnage caused by US President Donald Trump’s tariffs, including a 104% levy on Chinese imports and 10% on UK goods. This led to a slump in the FTSE 100 index, which fell as far as 3.6% before paring back losses, finishing down 2.92% at a 13-month low of 7,679.48.

According to JPMorgan Chase CEO Jamie Dimon, the US economy is likely heading towards a recession due to President Trump’s tariffs. However, Dimon also expressed hope by emphasizing that the US has the best economy in the world, with GDP per person at $85,000 compared to China's $15,000. He suggested that the key to calming down the markets is for Treasury Secretary Scott Bessent to negotiate trade deals quickly and show progress.