The article discusses the strong job growth reported in March, with 228,000 jobs added, surpassing expectations. However, this optimism is shadowed by the significant impact of global tariffs, leading to a downturn in financial markets not seen since the pandemic. Experts caution that while the job numbers are promising, they may not reflect the market's future performance, indicating a potential economic storm ahead. Economist Lawrence Summers stresses the unusual market reaction tied to current policies, suggesting severe implications for the economy.
"Today was the worst stock market experience in five years. Usually when you have a terrible stock market experience, it's because a bank fails, a pandemic, a hurricane or because some other country does something."
"Many experts have already noted that the latest jobs numbers may have little bearing on how the market will actually fare in the coming months—and what the effect could be on employers and workers."
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