Treasury Secretary Bessent Calls Stock Market Decline a 'Healthy Correction'

Bessent attributes the downturn to euphoric market conditions and warns of potential economic adjustments without guaranteeing a recession.

The S&P 500 and Nasdaq have dropped over 10% since February 19, marking significant declines in major U.S. stock indices.
Treasury Secretary Scott Bessent described the market correction as normal and necessary to avoid financial crises caused by unchecked growth.
The stock selloff follows President Trump's tariff policies, including new tariffs on steel, aluminum, and threats against key trading partners like Canada and the European Union.
Bessent declined to rule out the possibility of a recession but emphasized the need for the U.S. economy to transition away from heavy government spending.
Gold prices have surged to record highs as investors seek safer assets during economic uncertainty tied to shifting trade policies.