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Stanley Druckenmiller fears tariffs could kill the market's 'animal spirits'

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The economy was expected to add a solid 180,000 jobs in May, but if the payroll number is way off, that could be a game changer for markets.

said on Friday that while the Trump administration's current tariffs on imports may not appear that damaging on paper, their chilling effect on business sentiment could have an even greater impact on the economy and financial markets.

"If you're a company and you're thinking about building a plant or doing capital spending – I mean really? Aren't you going to wait now: See how this thing is resolved, what's going on?" he added.

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It already has. Just look at the jobs report and the bond market.

Indeed, and will hurt the average consumer as well.

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