I'm Taylor Riggs, and this is the Fox Business Rundown.

Monday, April 7th, 2025.

After the Trump tariff announcement sparked a two-day sell-up in the markets last week,

the White House is doubling down on their economic vision, calling the Wall Street panic

and overreaction.

Take a step back.

Take a deep breath.

Don't listen to the noise.

U.S. stocks lost $6.6 trillion in value during last week's Tuesday selloff that was set in

motion by the president's announcement of wide-ranging tariffs.

President Trump last week setting a 10% universal baseline

tariff for all America's trade partners before tacking on additional reciprocal tariffs on

nearly 90 different nations. Wall Street's reaction was unkind. The NASDAQ dipping into

bare market territory. The S&P 500 also down more than 20%

from its record closed this past February, threatening also to tip it into bare market territory.

Top voices on Wall Street like J.P. Morgan's Jamie Diamond and billionaire investor Bill Ackman,

both raising their voices on the tariff issue.

Ackman calling for a 90-day pause on the tariffs that he says are a big mistake.

The Trump economic team is holding steadfast to their theory of the case,

which is that these tariffs are a necessary reset to make the U.S. economy even stronger.

President Trump even telling the press,

what's going on in the markets? I can't tell you, but the country is much stronger.

...