Market drop a ‘Mag 7’ problem, not a MAGA one, he says in Tucker Carlson interview

Written by Costas Bias, Brendan Operation

(Reuters) -US Treasury Secretary Scott Pessant said in an interview issued on Friday that Chinese artificial intelligence tools in the stock market have a more related to this year’s appearance to the artificial intelligence tool in China, Deepsic than President Donald Trump’s policies.

“For everyone who believes that all market declines are based on the president’s economic policies, I can tell you that this market decline has started with the announcement of Chinese Amnesty International for Depsic,” Pisent told conservative broadcaster Taker Karlson.

“If I will be analyzed in my old hat, and this is the only time I will talk about … what is happening with the market, I will say it is a problem more than 7, not the Maga problem,” said Pesin, who runs a hedge box to be exploited as minister of the Treasury. “Mag 7” indicates the shares of the so-called wonderful 7-a group of seven high-performance technology shares that helped raise the market up before its last sale. “Make America great again,” Maga refers to the Trump logo.

American stocks have decreased by 10 % in two days since Trump announced a new global tariff system that was more aggressive than analysts and investors expected. It is a decrease in the fact that the market analysts and the great investors themselves have been placed on the feet of Tram’s aggressive tariffs, which most economists and head of the Federal Reserve believe in inflation and devastating economic growth.

The stocks achieved great success in late January when Deepseek launched the Chinese company, “Deepseek, a free company for Amnesty International, says it uses less data at the cost of current services. This led to a record loss of about $ 600 billion in AI Chipmaker Nvidia, one of the wonderful 7.

But soon the market was found again and by mid -February, the standard S& P 500 index regained a record level. The stocks then turned to the south again, starting in late February after a wide -ranging survey showed widely for the widespread pessimistic families about the prospects for the economy and the fear that Trump’s driving for definitions would increase inflation. A group of other investigative studies of companies and consumers since then informed similar concerns, and other data has shown that the pace of activity slowed throughout the first quarter of 2025.

S&P has lost nearly 14 % since February 19, and nearly $ 10 trillion has been erased from the market value in the United States.