Overview

• Bill Ackman criticized Commerce Secretary Howard Lutnick for benefiting financially from market downturns due to Cantor Fitzgerald's long bond positions.
• Ackman argued that Lutnick's financial ties represent an irreconcilable conflict of interest incompatible with his role as Commerce Secretary.
• The U.S. stock market has experienced sharp declines, with major indices dropping between 8.75% and 10.6% following new tariffs announced by President Trump.
• Falling Treasury yields have further highlighted economic instability, with the 10-year yield dropping to 3.90%, its lowest level since late 2024.
• Ackman positioned himself as 'long America,' contrasting his commitment to economic growth with Lutnick's alleged profit from financial crises.