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06/13 14:34

Wall Street veteran issues warning about tariffs

Wall Street veteran issues warning about tariffs

Steve Eisman, a renowned investor known for predicting the 2008 real estate crash, is sounding the alarm not about overvalued tech stocks or interest rates, but about the escalating risk of global trade conflicts.

In a recent interview with CNBC, Eisman cited tariffs as a major cause of concern for the stock market. While investor sentiment has improved, he warned that negotiations, especially with complex blocs like the European Union, remain fraught with political and logistical hurdles. “Every EU country has a veto,” he said, noting the difficulty of reaching unified agreements.

As for U.S.-China relations, Eisman acknowledged that the outlook is too unpredictable to make a confident assessment. “There are too many variables,” he said, adding that he has reduced risk in his portfolio and is waiting to see how things develop.

Despite the optimism surrounding the AI ​​sector, fueled in part by record profits at NVIDIA, whose revenue jumped 69% in a single quarter, the expert warned that geopolitical conflicts could derail that momentum. He raved about NVIDIA’s growth, calling it “crazy,” but added a stark warning: “If a trade war breaks out, none of this will matter in the short term.”

For now, Eisman remains bullish on the market, but is more cautious than enthusiastic, and is keeping a close eye on rising trade tensions, which could alter the near-term market trajectory.

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