Thursday’s Inventory-Market Downturn Was ‘No Large Deal,’ Says Navarro Amid Financial Jitters
Washington, D.C. – April 11, 2025, 03:36 AM PDT – Peter Navarro, a senior financial adviser to President Donald Trump, disregarded Thursday’s sharp stock-market plunge as “no huge deal” throughout an look on Fox Information late final evening, April 10, simply hours after the Dow Jones Industrial Common shed over 1,000 factors. The remark, echoing his earlier “Baghdad Bob” second to reporters, comes as markets grapple with fallout from Trump’s tariff rollercoaster and chronic inflation fears, leaving Wall Road and Major Road divided on whether or not the dip is a hiccup or a harbinger.
The Dow’s 1,000-point drop—closing at 39,608—adopted Wednesday’s historic 9.5% S&P 500 surge, spurred by Trump’s 90-day tariff pause on over 75 nations. However Thursday’s reversal, with the Nasdaq tumbling 5% and the S&P 500 off 3%, worn out half these beneficial properties, pushed by a bond market nonetheless smarting from weeks of tariff-induced chaos. U.S. 10-year Treasury yields, which eased to 4.3% after peaking at 4.51%, signaled lingering unease, whereas posts on X captured the whiplash: one consumer quipped, “Navarro’s ‘no huge deal’ feels like denial,” reflecting a sentiment that the adviser’s optimism jars with actuality.
Navarro framed the downturn as a “regular retracement” after “the very best rise in inventory market historical past,” insisting to Fox’s Sean Hannity, “You’re gonna see somewhat pullback—in fact it’s no huge deal.” He pinned Wednesday’s rally on Trump’s tariff recalibration—slashing reciprocal duties to 10% for many nations besides China, hit with a 125% levy—and predicted a swift rebound. “The basics are rock stable,” he claimed, citing low unemployment (4.1%) and client resilience, although he sidestepped the bond market’s latest revolt and Constellation Manufacturers’ warning of slumping beer gross sales tied to immigration crackdowns.
Analysts aren’t so sanguine. “This isn’t only a pullback—it’s a market screaming uncertainty,” stated RSM’s Joseph Brusuelas, pointing to tariff overhangs (25% on Canada and Mexico, 10% baseline) and China’s retaliatory 84% duties stoking fears of inflation spikes. March CPI information, launched April 10, looms giant—February’s 2.8% price might climb, per CNBC projections, testing the Fed’s 4.25%-4.5% price stance subsequent week. Navarro’s dismissal echoes his previous rosy spins, however with company bond issuance tanking and hedge funds unwinding $800 billion in trades, the injury might linger.
For now, Navarro’s “no huge deal” mantra goals to regular Trump’s financial narrative as markets teeter. Whether or not it’s a blip or a breaking level, Thursday’s downturn—set in opposition to Xi Jinping’s tariff hardball and a Fed eyeing dangers—suggests the experience’s removed from over.
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