Investor confidence has plunged to near-historic lows following President Donald Trump’s aggressive new round of tariffs, with sentiment now reportedly worse than during the height of the COVID-19 pandemic.
According to The Independent, a new Bank of America Fund Manager Survey reveals that global fund manager morale is at its fifth-lowest point on record. “Investor feeling was only worse in the aftermath of the 9/11 terror attack, the global financial crisis, Trump’s first-term trade war with China, and the 2022 inflation crisis,” the outlet reported Thursday.
The survey, conducted just two days after Trump’s highly publicized “liberation day” announcement in the Rose Garden, gathered responses from 164 global fund managers overseeing a staggering $386 billion in assets. The results paint a bleak picture of investor confidence and signal growing alarm over the trajectory of Trump’s economic policies.
The Independent noted that the data exposes “a variety of alarming signs for the global economic outlook,” including a major drop in growth expectations. Nearly half of the surveyed fund managers predicted a “hard landing” for the global economy within the next 12 months — the lowest growth sentiment seen in 30 years.
The fear is largely tied to Trump’s sweeping tariffs, which have disrupted markets and increased the cost of imports, fueling inflation and threatening global trade stability. The Federal Reserve has also warned that Trump’s trade strategy could lead to slowed economic growth and a renewed spike in inflation.
Investor unease has only been intensified by Trump’s recent threat to remove Federal Reserve Chair Jerome Powell, even though he doesn’t have the legal authority to do so. The move, while likely political posturing, has stirred deeper concerns about Trump’s willingness to interfere with independent financial institutions during a period of mounting instability.
With recession fears mounting and global fund managers sounding the alarm, Trump’s tariff-fueled economic vision appears to be sowing uncertainty at every turn. As markets brace for more turbulence, one thing is clear: Wall Street is watching — and worrying.
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