Donald Trump’s claim that ‘globalists’ are to blame for the current market sell-off has been slammed as “nonsense,” by the CEO of one of the world’s largest independent financial advisory and asset management organizations.
Nigel Green of deVere Group is weighing in after major stock markets dropped sharply this week, as investors struggled to digest President Donald Trump’s sweeping and shifting tariff and trade policies.
When asked in the Oval Office on Thursday whether he thought it was his tariffs that were scaring the markets, Trump said: “Well, a lot of them are globalist countries and companies that won’t be doing as well.”
The deVere CEO says: “The reality is that investors are reacting to the direct consequences of his trade policies.
“Shifting tariffs on Mexico, Canada, and China, alongside threats to extend the same to the EU, are sowing uncertainty and instability, triggering market turbulence.
“This isn’t the work of shadowy international figures—it’s the predictable result of protectionist economics colliding with global financial reality.”
On April 2, reciprocal tariffs will come into effect, further tightening the screws on businesses that rely on international trade.
Trump’s expansion of the tariff pause for goods from Canada and Mexico under the United States-Mexico-Canada Agreement (USMCA) may offer temporary relief for select sectors, but it does nothing to offset the broader market reaction.
“Unlike his Wednesday intervention to spare automakers, which momentarily lifted stocks, investors found no such reassurance this time. The sell-off speaks volumes.”
All major US benchmarks took a hit, with the Nasdaq Composite slipping into correction territory, erasing its post-election Trump bump.
Nigel Green continues: “Investors are clearly questioning whether the US economy is being steered by a sound financial strategy or by impulsive political manoeuvring. Markets thrive on stability and predictability—two qualities that are in short supply under an erratic approach to global trade.”
Tariffs function as a tax on businesses and consumers alike. They raise costs, disrupt supply chains, and provoke retaliatory measures from trade partners. The fallout is now playing out in real time.
Companies facing higher input costs pass them on to consumers, dampening demand and weighing on corporate earnings.
Exporters find themselves shut out of key markets as trading partners impose countermeasures, cutting off avenues for growth. Investors see the writing on the wall and are moving accordingly.
The US economy is deeply interwoven with the global marketplace, and attempts to retreat behind tariff walls will not insulate it from reality. International investors, fund managers, and business leaders are making decisions based on economic fundamentals, not ideological rhetoric.
“The numbers don’t lie: uncertainty leads to sell-offs, and sell-offs erode confidence,” affirms Nigel Green.
He concludes: “Investors are not reacting to a vague ‘globalist’ conspiracy; they’re responding to tangible risks. Markets have delivered their verdict, and the message is clear: uncertainty is toxic, and protectionism carries a heavy price.”
His 70 million MAGA followers are mostly unwashed, not in possession pf a college degree and are as thick as brick. Thanks to them, the USA is now officially a banana republic thanks to the Orange man…sob, sob!
That’s some unclothed and raw truth spoken here.
Trump is envious of the Chinese………
He wants to make the USA a manufacturing centre through tariffs………
Only thing he can’t fathom……….
USA workers would never be as committed and competitive as the Chinese and other Asians………..
FWD2031
While Zambia complains that we got smacked in the face, we still have to survive without. Our tax system was calibrated such that we took American aid and budget support as part or our incomes. We Americanised everything. After being upturned, we need a reset instead of crying everyday about one and the same guy, T-rump. Pull up the resources for a new beginning.
As for the US or global markets, it can’t always be business as usual.
What people don’t know is that Donald Trump doesn’t know how the world works and unfortunately he’s recruited Elon Musk whose main mission is to finish off the South African black government. I bet if you asked him to mention all the capital cities of the USA he will only get ten right.
A pity that our globe is being dominated by two of the thickest guys on the planet. Is this divine fate taking us to an armageddon?
Well south africa has been brought to its knees by the anc Grz
there’s a lot of anger both sides of the devide on that
The White House Buffoon is much like Idi Amin,Mobutu ,Hitler ,Caligula and other psychopathic narcissists who brought their countries into self destruction.
Why time is not there? Time period for voters. Is the remaining time moving fast for voters to come and exercise their voting power in 2026?