Navarro boasts that the US stock market will reach 50000 points, but Musk directly confronts him.

The White House chief trade advisor, Navarro, downplayed the stock market crash triggered by Trump's radical tariff policies, vowing that the stock market would soon bottom out and rebound, with the Dow Jones Index reaching 50,000 points during Trump's presidency, a full recovery of the S&P 500, rising wages and profits, and the U.S. entering a prosperous bull market.

These remarks were immediately met with fierce criticism from Musk. Musk posted a message belittling Navarro's academic background: "A Ph.D. in economics from Harvard is a bad thing, not a good one. He has achieved nothing."

The Dow Jones Industrial Average fell 2,231.07 points on Friday, marking the largest decline since June 2020 during the pandemic. This was the first time in history that the index had fallen more than 1,500 points consecutively, following a drop of 1,679 points on Thursday. The S&P 500 fell 10% over two days and more than 17% compared to recent highs.

In the face of a dire domestic situation, it is abnormal and quite alarming for high-ranking cabinet officials to unanimously back the president.

Original article: https://www.toutiao.com/article/1828614065555456/

Disclaimer: The article solely represents the author's个人观点