Bloomberg (March 4)
A roller coaster day left the S&P 500 Index ”at its lowest level since Nov. 4, the day before Trump was elected…. The dizzying ride provided a preview of the difficulties facing investors, who now must figure out how to price American assets in what essentially amounts to a new world order created by Trump’s tariffs on China, Canada and Mexico.” The volatility and steep decline are “a comeuppance for those on Wall Street who bet big on Donald Trump’s election win, trades that powered the equity market higher along with the dollar and Treasury yields. The bet that Trump wouldn’t do anything to disturb the stock market rally has, for now, been lost.”
Tags: Assets, Canada, China, Comeuppance, Dizzying, Dollar, Investors, Mexico, New world order, S&P 500, Stock market, Tariffs, Treasury yields, Trump, Volatility, Wall Street
