Prominent leaders of Wall Street who supported Donald Trump during his presidential campaign have expressed significant concern following a sharp decline in U.S. stock markets, marking one of the most severe downturns in recent history.

Following several days of silence, top executives from major banks and investment funds began articulating their apprehensions about both economic conditions and the current administration's policies.

Jamie Dimon, CEO of JPMorgan Chase, cautioned against rising inflation in the United States and a potential economic slowdown.

He emphasized that the risks of undermining economic and military alliances could jeopardize the U.S.'s standing as a global power.

Furthermore, Jan Hatzius, Chief Economist at Goldman Sachs, revised the probability of a recession in the United States from 35% to 45%, reflecting heightened concerns about the economy's trajectory.

Ray Dalio, founder of Bridgewater Associates, the world's largest hedge fund, predicted significant stagflationary consequences in the U.S. economy.

A notable voice of concern has been Bill Ackman, the billionaire hedge fund manager and founder of Pershing Square Capital Management, who had been one of Trump's staunchest supporters on Wall Street.

Ackman sharply criticized Commerce Secretary Howard Lutnick for appearing indifferent to the stock market collapse, suggesting a conflict of interest due to his connections to Cantor Fitzgerald, a financial services firm with significant investments in bonds.

This, he argued, meant Lutnick would benefit from a downturn in the economy.

Ackman also expressed that negotiations on trade while the stock market falters undermine the negotiating position of both the country and the president.

He called for the immediate dismissal of advisors who advised Trump to pursue policies that could exacerbate the market's decline.

In a post on social media platform X, Ackman highlighted the detrimental impact of imposing extensive and disproportionate tariffs on both allies and adversaries, which, he warned, could lead to a global economic conflict and erode confidence in the U.S. as a trading partner and investment destination.

Advocating for a temporary suspension of tariffs for 90 days, Ackman offered to facilitate negotiations aimed at rectifying perceived unfair tariffs and attracting significant new investments into the U.S.

This proposal temporarily influenced market reactions, following a misunderstanding related to an affirmative response from Chief Economic Advisor Kevin Hassett during a television interview, which was subsequently retracted by the White House spokesperson Karoline Leavitt and President Trump, who labeled it as misinformation.