Peter Andersen, founder of Anderson Capital Management, said that the contraction of the US economy should not come as a surprise, but the market seemed very surprising. During this time, Trump was trying to get his tariff policy approved by the market through negotiations, which made modeling, forecasting, etc. extremely difficult. When the market is unable to make reasonable predictions, it often turns to a pessimistic interpretation of things.

Peter Andersen, founder of Anderson Capital Management, said that the contraction of the US economy should not come as a surprise, but the market seemed very surprising. During this time, Trump was trying to get his tariff policy approved by the market through negotiations, which made modeling, forecasting, etc. extremely difficult. When the market is unable to make reasonable predictions, it often turns to a pessimistic interpretation of things.