Treasury Secretary Scott Bessent downplays stock market crash as short-term reaction and says ‘everything is working very smoothly’

• After the worst sale in Wall Street From the first days of Covid-19 epidemic, Treasury Secretary Scott Besent said he admired the market ability to deal with the increasing folders and noted that Wall Street has a history of reducing president Donald Trump, which raises tariff policies that suddenly raises her fears of fraud.

Treasury Secretary Scott Payett said that the market’s ability to deal with increasingly reassuring sizes and reduces the sale of huge stocks as a short -term reaction.

In an interview with NBC’s Meet It was broadcast on Sunday, and there was no indication that President Donald Trump will retract these aggressive definitions and said there should be no recession.

This is despite the pricing of Wall Street more chances of shrinkage, with a jpmorgan warning tariff that will reduce the gross domestic product this year.

“One of the things that I can tell you, as the Treasury Secretary, what I liked is the market infrastructure, and that we got a registration volume on Friday. And everything works very smoothly so that the American people can do so.”

On Friday, the Dow Jones industrial average collapsed by 5.5 %, lost 2,231 points, and S&P 500 sank 6 %, the Nasdaq Stock Exchange decreased by 5.8 %, and the heavy technology index sent more than 20 % less than its highest level and put it in the bear market.

Then it follows the similar market massacre on Thursday. The two sessions gave 6 trillion dollars in the market and were distinguished by the worst sales from the first days of Covid-19 epidemic in 2020.

“We got short -term market reactions from time to time,” Bessin said, adding that Wall Street has been constantly underestimated Trump, pointing to a preliminary decrease in stocks after he unexpectedly won the 2016 elections.

“It turns out that he will be a pro -business president for more than a century, and perhaps in the history of the country. We went to a high return after inflation for the next four years,” said Pesin.

When asked what he would say to the Americans planning to retire and just saw their great success, he refused as a “false narration”.

“I think they do not look at the daily fluctuations of what is happening,” said Pesin. “And you know, in fact, most Americans do not have everything on the market.”

For those who have 401 (K) accounts, most of them have 60 % of their property shares and 40 % in bonds, adding that these accounts 60/40 decreased by 5 % or 6 % per year.

“If you look daily, from a week to a week, this is very risky. In the long run, it is a good investment.”

For those who apply contracts before them until retirement, experts say the best path of work is to breathe and leave 401 (k) alone.

This story was originally shown on Fortune.com

2025-04-06 16:57:00