Republican Senator Tommy Tuberville defended recent stock market declines on Monday, attributing the drop to a market correction rather than President Donald Trump’s tariff policies.
“The only problem you have with these tariffs, there’s always a scoreboard. And that’s gonna be the stock market,” Tuberville told Fox Business host Larry Kudlow.
The Alabama senator suggested markets had become inflated and were due for adjustment.
“We were probably over-bloated with the stock market here for a while,” Tuberville said. “We went up quite a bit. But at the end of the day it’s about fairness, it’s about having fair tariffs.”
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Markets have experienced significant volatility recently, with the S&P 500 moving more than 1% in either direction during seven of the last eight trading sessions amid uncertainty surrounding Trump’s tariff proposals.
Analysts worry these market swings could directly impact economic growth or create uncertainty that might stall business activity and consumer spending. Despite this, Tuberville is optimistic.
“President Trump has put together a smart group of people that understand a lot about the dollar and a lot about foreign currency,” he said, adding that “it’s all going to work out better for the United States of America.”
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