In the last three months tariff news has whipped financial markets around remarkably in response to President Trump’s ever changing tariff policies. The most pronounced reactions were concentrated in the US stock market. When President Trump increased tariffs on China to 10% on February 3, the S&P 500 shed -3.3% on February 4 only to recover and record a new all time high on February 19. The S&P 500 began to decline in early March as investors realized that President Trump was serious about increasing tariffs. On March 12 a 25% tariff was applied to...
