Mark Lowen

Windrush has been obviously the big issue as America and the rest of the world has grappled with inflation. Obviously, we had hugely high inflation post the Russian invasion of Ukraine, energy bill spikes, that sort of thing, which makes life very painful for everyone. So I think Donald Trump, they're looking for... some help, really.

Windrush has been obviously the big issue as America and the rest of the world has grappled with inflation. Obviously, we had hugely high inflation post the Russian invasion of Ukraine, energy bill spikes, that sort of thing, which makes life very painful for everyone. So I think Donald Trump, they're looking for... some help, really.

If interest rates were to come down, that would help everyone in their pockets. That would help businesses as well. It makes money cheaper to borrow as well. But the chair of the Federal Reserve, Jerome Powell, has always been very circumspect on this. He's very careful with the language he uses. He won't want to stoke any inflationary issues. I think he also reflected there

If interest rates were to come down, that would help everyone in their pockets. That would help businesses as well. It makes money cheaper to borrow as well. But the chair of the Federal Reserve, Jerome Powell, has always been very circumspect on this. He's very careful with the language he uses. He won't want to stoke any inflationary issues. I think he also reflected there

He was a bit worried about the size of these tariffs, even took them by surprise. So I think, yeah, as ever, Donald Trump wants fast-moving responses, but Jerome Powell, the sort of polar opposite, really. It's slow and steady. They will take all the data, analyse it and work out the path from there.

He was a bit worried about the size of these tariffs, even took them by surprise. So I think, yeah, as ever, Donald Trump wants fast-moving responses, but Jerome Powell, the sort of polar opposite, really. It's slow and steady. They will take all the data, analyse it and work out the path from there.

Well, pretty much as soon as Donald Trump got his massive card out with his tariff menu, there was a fall in US stocks. That continued. We had a massive drop off on all stocks on Wall Street yesterday. Overnight, Asian indexes lost ground, European indexes as well. I mean, the FTSE, for example, the 100 biggest companies in London, now trading at lows not seen for over a year.

Well, pretty much as soon as Donald Trump got his massive card out with his tariff menu, there was a fall in US stocks. That continued. We had a massive drop off on all stocks on Wall Street yesterday. Overnight, Asian indexes lost ground, European indexes as well. I mean, the FTSE, for example, the 100 biggest companies in London, now trading at lows not seen for over a year.

So we're not in what you might call crash territory. But certainly in America, a massive sharp decline again on the opening bell this afternoon. The Nasdaq now trading at its lowest point since last May. It's 20% below its December peak, which technically now puts us in what we call bear territory. Donald Trump's message, though, has been this is a short-term pain.

So we're not in what you might call crash territory. But certainly in America, a massive sharp decline again on the opening bell this afternoon. The Nasdaq now trading at its lowest point since last May. It's 20% below its December peak, which technically now puts us in what we call bear territory. Donald Trump's message, though, has been this is a short-term pain.

He says it's not a crash, it's a correction. It's these big companies getting used to this new world order. And he is sending out that message loud and clear to Americans that, yes, we could have some short-term pain here, even possibly the R word being raised, recession. We could expect that even potentially. But that will lead to what he sees as a level trading playing field across the world.

He says it's not a crash, it's a correction. It's these big companies getting used to this new world order. And he is sending out that message loud and clear to Americans that, yes, we could have some short-term pain here, even possibly the R word being raised, recession. We could expect that even potentially. But that will lead to what he sees as a level trading playing field across the world.

creation of better jobs in America, better wages. But I think there's no doubt in the short term, consumers are bracing themselves, like markets, like investors, like governments, for what's to come over the next few days.

creation of better jobs in America, better wages. But I think there's no doubt in the short term, consumers are bracing themselves, like markets, like investors, like governments, for what's to come over the next few days.

Look, in terms of trade tariffs, we haven't seen anything like this since probably the 1930s. An escalating scale of universal tariffs, anything from 10%, for the ones that got off most lightly, up to 50% or so. And this all depends on what Donald Trump sees as the level of trade deficit. In his words, how much America's been ripped off over the years. He wants to level that playing field.

Look, in terms of trade tariffs, we haven't seen anything like this since probably the 1930s. An escalating scale of universal tariffs, anything from 10%, for the ones that got off most lightly, up to 50% or so. And this all depends on what Donald Trump sees as the level of trade deficit. In his words, how much America's been ripped off over the years. He wants to level that playing field.

I think the feeling now, the hope among some countries, is Donald Trump has had his big showman moment. He wanted that moment with the big ledger in the Rose Garden. So now the work begins behind the scenes to kind of mitigate the situation to improve those trade terms really for as many countries as possible.

I think the feeling now, the hope among some countries, is Donald Trump has had his big showman moment. He wanted that moment with the big ledger in the Rose Garden. So now the work begins behind the scenes to kind of mitigate the situation to improve those trade terms really for as many countries as possible.

Well, I think, yeah, a day of volatility, to put it lightly. It started out in the Far East, spread across to Europe. And then from the opening bell, really, in America, all the major indices were down. The Nasdaq, very tech-heavy, that one, down 5.5% at one point. Now, I believe 10% is what they call a correction, 20% a bear market. We don't really talk about crashes.

Well, I think, yeah, a day of volatility, to put it lightly. It started out in the Far East, spread across to Europe. And then from the opening bell, really, in America, all the major indices were down. The Nasdaq, very tech-heavy, that one, down 5.5% at one point. Now, I believe 10% is what they call a correction, 20% a bear market. We don't really talk about crashes.