{"id":53651,"date":"2025-09-25T23:38:31","date_gmt":"2025-09-26T03:38:31","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/market-jitters-as-investors-pull-back-from-u-s-equities-trump-imposes-pharma-tariffs-hedge-fund-veteran-departs-millennium\/53651\/"},"modified":"2025-09-25T23:38:31","modified_gmt":"2025-09-26T03:38:31","slug":"market-jitters-as-investors-pull-back-from-u-s-equities-trump-imposes-pharma-tariffs-hedge-fund-veteran-departs-millennium","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-jitters-as-investors-pull-back-from-u-s-equities-trump-imposes-pharma-tariffs-hedge-fund-veteran-departs-millennium\/53651\/","title":{"rendered":"Market Jitters as Investors Pull Back from U.S. Equities; Trump Imposes Pharma Tariffs, Hedge Fund Veteran Departs Millennium"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>U.S. equities saw net selling last week, with hedge funds and private clients driving outflows, while institutional investors continued a seven-week buying streak.<\/strong><\/li>\n<li><strong>President Donald Trump announced a 100% tariff on branded and patented pharmaceutical imports, effective October 1, 2025, potentially impacting Indian exporters despite generics being initially excluded.<\/strong><\/li>\n<li><strong>Macro hedge fund founder Jimmy Lim is reportedly ceasing to manage money for Millennium Management, having previously spun out to establish Modular Asset Management.<\/strong><\/li>\n<li><strong>The <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> (<a href=\"\/stock\/SPX\">SPX<\/a>) has experienced a pullback, falling for a third consecutive day, despite stronger-than-expected Q2 GDP growth.<\/strong><\/li>\n<\/ul>\n<p>U.S. equity markets experienced a notable pullback last week, with clients turning net sellers for the first time in three weeks, according to Bank of America Securities. The selling was primarily driven by <strong>hedge funds<\/strong> and <strong>private clients<\/strong>, marking the first sales by hedge funds in three weeks. Outflows from single stocks amounted to <strong>$1.6 billion<\/strong>, though this was partially offset by <strong>$1.2 billion<\/strong> in inflows into equity exchange-traded funds (ETFs). <em>In contrast to broader market sentiment<\/em>, institutional investors extended their buying streak to seven weeks. The S&amp;P 500 (<a href=\"\/stock\/SPX\">SPX<\/a>) has fallen for a third straight day, pulling back approximately 1.5% in recent days, yet remains up nearly 12% for the year.<\/p>\n<p>In trade policy news, President Donald Trump declared a <strong>100% tariff<\/strong> on branded and patented pharmaceutical imports, set to take effect on <strong>October 1, 2025<\/strong>. This measure aims to incentivize pharmaceutical companies to establish manufacturing facilities within the United States. While <em>generic medicines<\/em>, which constitute India&#39;s primary pharmaceutical export to the U.S., are technically excluded from the tariffs, the announcement has sent ripples through India&#39;s <strong>$20 billion<\/strong> pharmaceutical industry. Indian exporters, including major players like Sun Pharma (<a href=\"\/stock\/SUNPHARMA\">SUNPHARMA<\/a>), Dr. Reddy&#39;s Laboratories (<a href=\"\/stock\/DRL\">DRL<\/a>), Cipla (<a href=\"\/stock\/CIPLA\">CIPLA<\/a>), Lupin (<a href=\"\/stock\/LUPIN\">LUPIN<\/a>), and Aurobindo Pharma (<a href=\"\/stock\/AUROPHARMA\">AUROPHARMA<\/a>), face potential disruption as they supply nearly 40% of U.S. generics. The U.S. pharmaceutical market is the world&#39;s largest, with imports totaling <strong>$212.67 billion<\/strong> in 2024.<\/p>\n<p>Separately, the financial industry is observing a significant personnel development as <strong>Jimmy Lim<\/strong>, a prominent macro hedge fund founder, is reportedly stepping back from managing money for <strong>Millennium Management<\/strong>. Lim is known for co-founding <strong>Modular Asset Management<\/strong>, an Asian macro hedge fund based in Singapore, which he spun out of Millennium Management in January 2020. Modular Asset Management currently manages nearly <strong>$1 billion<\/strong> in assets. Millennium Management, a global, diversified alternative investment firm founded in 1989 by Israel Englander, boasts over <strong>$79 billion<\/strong> in assets under management as of September 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways U.S. equities saw net selling last week, with hedge funds and private clients driving outflows, while institutional investors [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[5012],"tags":[4086,4179,5125,5585,7325,11171,11535,11536,11537],"class_list":["post-53651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","tag-india","tag-tariffs","tag-equities","tag-hedge-funds","tag-pharmaceutical-industry","tag-us-trade-policy","tag-market-sell-off","tag-personnel-change","tag-millennium-management"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/53651","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=53651"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/53651\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50383"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=53651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=53651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=53651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}