Wall Street just got loud and it’s not cheering. Tesla (NASDAQ:TSLA) CEO Elon Musk, Pershing Square’s Bill Ackman (Trades, Portfolio), and hedge legend Stanley Druckenmiller (Trades, Portfolio) are now openly throwing punches at the Trump administration’s tariff plans, warning they could trigger a full-blown market meltdown. What started as scattered criticism has snowballed into a rare, public revolt from some of the most influential voices in investing. Even JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon, once cautiously optimistic, is waving a red flag in his latest letter: We’re not in Kansas anymore. Meanwhile, markets continue their slide, with uncertainty mounting by the hour.
Elon Musk didn’t hold back mocking top trade adviser Peter Navarro’s Harvard credentials and calling out the damage tariffs could inflict on Tesla. Bill Ackman (Trades, Portfolio), usually one of Trump’s loudest Wall Street backers, called for an immediate 90-day tariff pause to avoid what he described as a self-induced, economic nuclear winter. The attacks aren’t just emotional they’re aimed at the administration’s math. Both Musk and Ackman questioned the very formula used to justify the tariffs, with Musk posting memes comparing the market fallout to D-Day, portraying Commerce Secretary Howard Lutnick as a general calmly watching the chaos unfold.
The pushback isn’t just online theatrics. Stanley Druckenmiller (Trades, Portfolio) took to social media to say he does not support tariffs exceeding 10%, a direct challenge to Treasury Secretary Scott Bessent his former protege who’s now doubling down on the strategy he once dismissed. And the chorus is growing. Yardeni Research blasted Navarro’s recent TV appearance, saying it made them gag on [their] bagel. With financial leaders breaking ranks, investor sentiment is shifting fast. Confidence in the administration’s economic direction? Hanging by a thread.
This article first appeared on GuruFocus.
