^{Source: NY1}

In the midst of intense market turbulence and growing fears of a tariff-induced recession, President Donald Trump’s trade advisor Peter Navarro is doubling down on his bullish outlook for Wall Street—just one day after dismissing a 1,000-point drop in the Dow Jones Industrial Average as “no big deal.”

Speaking on Fox Business Network Friday morning, Navarro encouraged Americans to hold their positions—and even consider buying more stocks—predicting a market rally driven by upcoming tax reforms and rapid-fire trade agreements with global partners.

“We’re looking at 90 deals in 90 days. The biggest, broadest tax cut in American history is about to hit. That’s what should be driving the tape,” Navarro said confidently. “If you’re not long, you’re going to get left behind.”

Markets in Turmoil—but Navarro Stays Optimistic

Wall Street has been on a rollercoaster. Just 24 hours before Navarro’s comments, the S&P 500 plunged 3.46%, and the Dow shed 1,008 points—a 2.5% drop. That followed four consecutive losing sessions and a momentary surge after President Trump announced a temporary 90-day suspension of tariff hikes for all countries except China.

As of Friday’s opening bell, the S&P 500 was down 12.5% compared to January 20—the day Trump began his second term.

But Navarro, speaking before trading began, brushed off investor panic and described recent losses as mere “paper losses.”

“If you don’t sell, you don’t lose,” he claimed, echoing previous remarks made during a Sunday Fox News appearance. “We are going to have the biggest boom in the stock market we’ve ever seen. We’ll hit 50,000 on the Dow by the end of this term.”

Criticizing Wall Street Giants While Backing ‘Main Street’ Investors

Navarro also took direct aim at JPMorgan Chase CEO Jamie Dimon, accusing big banks of profiting off market volatility while average investors suffer from fear and uncertainty.

“While Jamie Dimon wrings his hands, his firm made out like bandits trading on this volatility,” Navarro claimed. “I’d rather have mom-and-pop investors with solid portfolios than Jamie Dimon scoring another billion.”

Ironically, JPMorgan had just posted strong earnings Friday morning. In response, Dimon noted that the economy was facing serious headwinds—including trade wars, high asset prices, persistent inflation, and rising fiscal deficits.

“As always, we hope for the best but prepare the firm for a wide range of scenarios,” Dimon said in his earnings statement.

A White House Talking Point: “Trust the Team”

Navarro's remarks mirrored those of other Trump administration officials trying to calm investor nerves. He called the economic advisory group “the best in history” and insisted the American public should place its faith in the administration’s ability to steer through the storm.

“Trust in Trump. Trust in the team. Weak knees will lose in this market,” Navarro emphasized.

President Trump himself also chimed in Wednesday, urging calm amid a four-day losing streak in equities.

“BE COOL! THIS IS A GREAT TIME TO BUY!!!” Trump wrote on social media just hours before announcing the 90-day tariff pause.

The Bigger Picture: A Market Battling Conflicting Forces

Despite reassurances from the White House, investors remain wary. Analysts are pointing to the elevated effective U.S. tariff rate, which has surged to levels not seen in decades. As of this week, some sectors are facing total tariff burdens exceeding 25%, primarily due to Trump’s aggressive trade stance against China.

The U.S. Chamber of Commerce estimates that these tariffs could impact over $550 billion in trade flows and cost American consumers an average of $800 per household per year.

Wall Street is also grappling with:

• Sticky inflation holding above 3.8%,
• Interest rate uncertainty from the Federal Reserve,
• A ballooning fiscal deficit expected to surpass $2 trillion this year,
• And geopolitical uncertainty, particularly surrounding the Taiwan Strait and Middle East tensions.

Final Take: Bull or Bear?

Navarro insists the markets will recover, propelled by record-breaking tax cuts and trade deals—but his optimism comes amid stark warnings from seasoned market veterans and economists.

As the administration tries to paint a bullish future, the market remains at a crossroads, shaped by volatile policy decisions and a divided investor base.

One thing’s for sure: in the world of high-stakes investing and global trade battles, confidence—whether misplaced or prophetic—remains the most powerful currency in the room.

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