Treasury Secretary Scott Bessent on Sunday said the correction in the S&P 500 and Nasdaq was "healthy," and suggested that prior strong performance in stocks had been signs of a "euphoric" market.
Why it matters: Treasury secretaries don't typically welcome major stock indices falling 10% in less than a month.
President Trump's tariffs are rattling the economy and drawing attacks from Democrats. But some key party members are largely backing his approach — arguing that Democrats need their own pro-tariff agenda to win back working-class voters.
Instead of warning about tariffs hiking prices, they say, Democrats should be talking about how they'd use tariffs more effectively — even if that means using them against allies, including Canada and Mexico.
Why it matters: It's the latest example of Democrats' soul-searching and agenda-tweaking after Trump made inroads among blue-collar workers with promises to use tariffs to boost American manufacturing.
