Markets around the world faced extreme volatility in the wake of Liberation Day, with waves of selling triggered by a confluence of political symbolism, liquidity constraints, and broader risk-off sentiment. Trump unveiled the steepest American tariffs in over a century, taking aim at nearly every major US trading partner. The minimum baseline tariff will be 10%…
Overdrive mode
The widely watched S&P 500 ended last week down sharply in the two days following Trump’s “Liberation Day” tariff directives. According to Bespoke Investment Group, there have only been three other periods since 1952 when the current five-day trading week began that we have had two-day drops of 10%+: October 1987, November 2008, and March 2020….
Even the penguins felt it
I just finished watching a powerful clip where Singapore’s Prime Minister raised concerns about rising global trade tensions, drawing a sobering parallel to the 1930s, a time when escalating economic conflicts helped pave the way to global war. This is not just a history lesson. It is a reminder of how fragile the global system…
The effects of tariffs
Markets have tumbled in response to Trump’s latest tariff announcements, and as expected, we have been flooded with news, hot takes, and apocalyptic headlines, some insightful, others clearly designed to spike your blood pressure. Yes, there are valid reasons to be cautious about where the economy and markets might be heading from here. However, emotional…
Back to school
It is Liberation Day, so what happens next? Today marks what President Trump calls Liberation Day, the moment America reclaims its rightful place in global trade. Or at least, that is how he sees it: “Over the decades, they ripped us off like no country has never been ripped off in history, and we’re going…