Apollo Global Management says trade chaos worsens US economic situation

Mark Rowan, the head of Apollo Global Management, has stated the potential risks of the current trade policy for the US economy. Speaking at the Milken Institute conference, he emphasized that the Trump administration's unstable tariff policy creates serious uncertainty for the markets. He believes that another two quarters of such an environment could lead to negative economic growth.

Rowan, who heads one of the world's largest investment firms with $785 billion in assets, also noted the deteriorating perception of the US as a stable economic system. Despite supporting the administration's goals, Rowan warned investors of possible negative consequences if the government lacks a clear strategy. The markets have already shown a sharp reaction — the S&P 500 index lost over 12% after the announcement of new tariffs in April.

Apollo Global Management has been forced to revise its investment strategy in the current environment, focusing on more reliable assets with clear cash flows instead of risky venture projects.