Trump, futures and stocks
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CNN |
“Trump is enacting a very aggressive tariff policy, far more aggressive than most investors thought possible six months ago,” said Jed Ellerbroek, portfolio manager at Argent Capital.
SFGate |
World leaders are reacting with dismay, threats of countermeasures and calls for swift negotiations to make trade rules fairer in response to the sweeping new tariffs announced by U.S. President Donal...
The Boston Globe |
The S&P 500 was down 4.2% in afternoon trading, more than other major stock markets, and at its bottom in the morning was on track for its worst day since COVID struck in 2020.
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Futures tied to the S&P 500 slumped 2.2% during President Trump's Rose Garden ceremony announcing sweeping tariffs, with some investors saying trade restrictions could slow growth and increase inflation.
Trading partners are expected to respond with countermeasures of their own that could lead to dramatically higher prices.
Japan’s stock futures slumped after President Donald Trump slapped the nation with a 24% levy as part of tariffs on trading partners worldwide. A stronger yen may also drag exporter shares lower.
Gold price have risen from Wednesday’s record close, propelled by fears that Trump’s tariffs will continue to hammer stocks and expectations that central banks will continue to hoard the precious metal.
During Tuesday’s session, the S&P 500 finished about 0.4% higher, seesawing between gains and losses throughout the chaotic trading day.
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