Trump's Treasury Pick Sparks Wall Street Tensions Amid Musk's Influence

Wall Street is closely watching the battle for Treasury Secretary in Trump's administration, as it may signal whether Trump's aggressive tariff plans will be implemented. While some view his tariff threats as a negotiation tactic, the selection of a Treasury Secretary committed to these tariffs could impact the stock market. Elon Musk's endorsement of Howard Lutnick over Scott Bessent for the role has shifted prediction markets, with Lutnick's odds rising. Higher tariffs could lead to a significant stock selloff, raising concerns among investors.