Investors are speculating on how much U.S. President Donald Trump will tolerate stock market losses following the recent tariff policies that led to a significant decline on Wall Street. During his first term, the "Trump put" concept, representing a safety net for stocks, was prevalent as Trump often pointed to stock market strength as a sign of successful policies. Despite the S&P 500's considerable growth and record highs, doubts are rising about the existence of such a safety net this time around, with market indices declining since Trump's inauguration.

There is skepticism whether Trump will change his stance on tariffs and trade policies, with investors less confident in his pro-business agenda maintaining market stability. The aggressive tariffs announced in early April intensified the downward trend, prompting discussions on the potential return of the Trump put through tariff revisions after trade agreements. Some experts believe that a more significant market decline, possibly around 20-30%, would be required to motivate a policy shift from Trump, while others anticipate that drastic stock market losses may influence him to alter his approach to avoid popularity decline and protect his agenda. Speculation has also arisen online suggesting that Trump might be deliberately driving market declines to pressure the U.S. Federal Reserve to reduce interest rates and make stocks more affordable for the middle class.