JPMorgan Chase CEO Jamie Dimons annual letter warns of the economic risks from trade tensions, inflation, and rising tariffs, but expresses confidence in the long-term strength of the U.S. economy while urging swift resolution to trade disputes.
A little unfortunate is that our growth rate in this quarter will be flattish. We are coming out of low growth and this year, full year, maybe we will end up with 6-7% growth rate for Nifty and it can only slowly recover in in this environment.
Public sector banks were among the biggest losers, with Bank of India, Union Bank of India, Indian Bank, and Bank of Baroda dropping nearly 4%. Canara Bank, Punjab National Bank, and State Bank of India also saw declines between 1.5% and 2%.
Elon Musk has publicly attacked Donald Trump's trade advisor, Peter Navarro, calling him "dumber than a sack of bricks" over newly imposed tariffs. This outburst follows Musk's appeal to Trump regarding the tariffs, which have cost him billions. The feud highlights internal conflict within Trump's circle and Musk's dissent over trade policy, despite his previous support for the administration.
