Billionaire Ray Dalio has strong reaction to US debt rating cut
The iconic hedge fund manager spoke candidly about the US economy.
Look at the stock market's gains over the past six weeks, and you wouldn't be blamed for thinking all is back to hunky dory.
After a nearly 20% drop from its February highs amid tariff turmoil, the S&P 500 has rebounded sharply, recovering most of its losses. Since April 9, the S&P 500 has gained 19%, and after its big move, it has risen by 1.4% year to date.
The gains are welcome, but stocks and the U.S. economy may not yet be out of the woods. The rally was built on optimism that trade deals would shrink tariffs' bite, but deals take time, and even with negotiations, tariffs will likely still represent the biggest tax increase in decades.
