President Donald Trump’s sweeping tariffs have many worried about their retirement savings.
All eyes are on Wall Street as the turmoil sparked by President Trump's tariffs continued to send stock prices plummeting Monday.
Overnight, Asian markets opened down.
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Here in the United States, the futures are also down significantly ahead of the opening bell.
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Financial experts say it’s an indication that the market turmoil that began last week will continue when trading opens Monday morning.
This comes on top of a two-day free-fall last week that was the worst 48-hour period in market history —with $6.6 trillion in value wiped out.
President Trump’s tariffs are being criticized sharply around the world. But over the weekend, Trump doubled down – saying "this is an economic revolution, and we will win" – encouraging Americans to "hang tough."
Treasury Secretary Scott Bessent insisted on Meet the Press Sunday that this plunge is not signaling a recession.
"There doesn't have to be a recession, who knows how the market is going to react in a day, in a week," Bessent said.
Kristen Welker asked what his message was to Americans looking to retire and saw their savings drop.
"Kristen, I think that's a false narrative," Bessent said. "Americans who have put away for years in their savings accounts, I think they don't look at the day-to-day fluctuations of what's happening."
