TechFlow news, May 7 — According to CNBC, Paul Tudor Jones, the renowned Wall Street hedge fund manager and founder & CIO of Tudor Investment Corporation, issued a dual warning during CNBC's "Squawk Box" program:
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On markets: Even if Trump reduces tariffs to 40%-50%, it would still represent the largest tax increase since the 1960s, potentially reducing economic growth by 2%-3%. He expects U.S. stocks to hit new lows unless the Federal Reserve takes aggressive rate-cutting action.
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On technology: After attending an exclusive tech conference, Jones expressed deep concern about AI development. He warned that while AI could positively impact health and education, there is a 10% chance it could lead to the death of 50% of humanity within the next 20 years, primarily due to risks from "bio-hacking" and "weaponization."
He first rose to fame by accurately predicting and profiting from the 1987 stock market crash, and is regarded as a Wall Street legend.
