Hedge fund giant Elliott Management wrote to investors in late April saying that the Trump administration's economic plans could reduce the appeal of the dollar and doing business in the US. The letter warned that this could trigger “capital outflows” and lead to a “significant” depreciation of the dollar and US assets. Elliott pointed out that the capital avalanche caused by the market sell-off triggered after the announcement of “equal tariffs” on April 2 also highlighted the “fragility of the US stock market under severe inflated valuations.”

Hedge fund giant Elliott Management wrote to investors in late April saying that the Trump administration's economic plans could reduce the appeal of the dollar and doing business in the US. The letter warned that this could trigger “capital outflows” and lead to a “significant” depreciation of the dollar and US assets. Elliott pointed out that the capital avalanche caused by the market sell-off triggered after the announcement of “equal tariffs” on April 2 also highlighted the “fragility of the US stock market under severe inflated valuations.”