Andrew Ross Sorkin, co-anchor of CNBC’s Squawk Box, has delivered a warning about an inevitable stock market crash. He argues that American corporate leaders are currently too intimidated to publicly criticize President Trump.
During an appearance on CBS’s 60 Minutes, Sorkin discussed his book, 1929: Inside the Greatest Crash in Wall Street History – and How It Shattered a Nation. He told correspondent Lesley Stahl that corporate leaders are feeling intense political pressure. Sorkin voiced, “Most CEOs in America today are very scared to speak out publicly about anything. They worry that they could be targeted by the administration or face regulatory challenges.”
“They’re nervous about criticizing anything that’s going on with this administration,” he stated.
Sorkin issued a broader warning about an upcoming financial crisis. He pointed to a speculative bubble driven by artificial intelligence and the rollback of post-crisis financial regulations resembling pre-Great Depression conditions. Stahl questioned the role business leaders should play. She noted that some economists argue Trump’s tie to the stock market’s performance might guarantee preventive measures against a crash. However, Sorkin remains skeptical about the market’s long-term sustainability, highlighting how economic panics can quickly arise.
Sorkin said, “I think it’s hard to know how things get out of control. When confidence disappears, it happens fast,” snapping his fingers for emphasis.
Stahl directly asked Sorkin if a collapse like the one in 1929 could occur again. He responded firmly, “The answer is, we will have a crash. I can’t tell you when, and I can’t tell you how deep, but it’s going to happen.”
As fears of another market crash loom, Sorkin stresses the importance of business leaders navigating today’s economy carefully.
Joshua Q. Nelson reports for Fox News Digital, focusing on cultural trends, education, and public policy. Nelson joined Fox News Digital in 2019 and holds a Political Science degree from Syracuse University. He can be contacted for story tips at [email protected] and followed on Twitter and LinkedIn.
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