New York Mellon Plunges 5.05% Amid Trump's Trade Moves

On April 7, 2025, New York Mellon experienced a significant drop of 5.05% in pre-market trading, reflecting the broader market sentiment amidst heightened economic uncertainty.

The recent market turmoil can be largely attributed to the aggressive policy maneuvers by the Trump administration, particularly the imposition of customs duties. This has led to a significant loss of confidence in economic circles, with many anticipating disastrous consequences. The Federal Reserve has also issued cautionary notes about the potentially perilous situation unfolding, further exacerbating market tensions.

Investors are particularly concerned about the economic consequences of these policies, including higher inflation, slower growth, and the risk of a combined rise in unemployment and inflation. The Federal Reserve's chief, Jerome Powell, has explicitly mentioned these risks, stating that managing such a scenario is one of the most complicated tasks for a central bank.

Despite the White House's assurances that the short-term pain is necessary for future prosperity, the financial community remains skeptical. The business community believes that the benefits of Trump's policies can only take effect over a relatively long period, and in the meantime, there could be considerable damage, even irreversible damage for some.