U.S. Treasury Secretary Attributes Stock Sell-Off to Tech Stocks Decline

According to BlockBeats, U.S. Treasury Secretary Besant stated on Wednesday evening that the recent stock market sell-off is primarily due to a significant pullback in major technology stocks, rather than the protectionist policies of U.S. President Donald Trump's administration. In a television interview, Besant emphasized, "I am striving to be the Treasury Secretary, not a market commentator. I want to highlight that the Nasdaq index peaked on DeepSeek Day, indicating this is an issue with the Mag7 (the seven major U.S. tech giants), not a MAGA issue."