Mark Mahaney, a veteran in internet stock analysis, appeared on Fox Business during a significant market downturn triggered by President Trump's tariff policy. Mahaney acknowledged that while there was vigorous selling in the market, it did not yet qualify as panic selling. He noted the markets were approaching a bear market correction but wouldn't officially reach that stage unless there was a 20% decline. The uncertainty surrounding retaliatory actions influenced market sentiment, as the opening bell marked another substantial drop, with the Dow down significantly right at the start of trading.
Mark Mahaney emphasized we're not in full-blown panic selling yet but acknowledged we're close, with the market nearly in a bear market correction.
Anchor Stuart Varney pressed Mahaney on market panic, noting vigorous selling, but Mahaney clarified that true panic selling has not yet occurred.
Mahaney indicated that the severity of market reactions depends on the range of retaliatory measures following the tariff policy announced by Trump.
Varney reported a significant market downturn, highlighting the Dow's drop by 950 points shortly after the opening bell, indicative of investor concern.
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