Mark Cuban Urges Caution After Market Plunge But Quickly Walks Back Advice

DALLAS, Texas — Billionaire investor Mark Cuban advised against selling stocks following a tumultuous week for the market, but he quickly deleted his statement and reevaluated his stance.

On Sunday night, Cuban took to social media platform X, telling followers, “Don’t sell. It will come back. I just don’t know how long it will take.” However, the post was removed shortly after and stirred significant reaction on the platform.

Subsequently, Cuban published a follow-up post, clarifying his reasoning for retracting the initial advice. He stated, “As some other rightfully mentioned, no one knows. You have to look at your own circumstances and talk to those whose advice you value.” Cuban did not respond immediately to requests for further comment.

The timing of Cuban’s remarks coincided with one of Wall Street’s most challenging weeks since 2020. The S&P 500 index plummeted approximately 10% in just two days, while the Nasdaq 100 officially entered bear market territory for the first time since 2022.

On Monday, market struggles continued, exacerbated by declines in global markets, including Asia and Europe. Investors grew increasingly anxious following President Donald Trump‘s announcement of aggressive tariffs impacting U.S. trading partners. The proposed changes include a nearly universal 10% duty and higher levies exceeding 50% in certain industries.

This announcement sent ripples through the market as some analysts highlighted an increased risk of recession. Cuban echoed these concerns in a series of posts on Saturday, asserting that Trump’s tariffs, compounded by potential cuts from companies like Dogecoin, could lead to a financial crisis more severe than the Great Recession of 2008.

Cuban warned, “If the new tariffs stay in place for multiple years, and are enforced and inflationary, and DOGE continues to cut and fire, we will be in a far worse situation than 2008.” His comments come as the United States experienced significant economic downturns during the 2008 financial crisis, which saw GDP shrink by over 4% and unemployment rates peak at 10%.

President Trump addressed these concerns in a press conference, indicating that while there may be “short-term pain,” he remained confident in the resilience of the U.S. economy. He further emphasized his perspective in a post on Truth Social, stating, “ONLY THE WEAK WILL FAIL!”