Well, that was quite a day. QQQs -5%+ with hardly a bounce all day as investors grappled with the worse than expected Tariffs announced by Trump and potential ramifications on the economy going forward. Those aren’t the only potential ramifications with plenty of geopolitical knock on effects as well as potential impact on what it means for the market multiple in the U.S. — hard to see the U.S. come out of this without a big hit to its reputation. After a decade+ of significant outperformance in the indexes and many foreign investors shifting capital to the states, where do those $’s get allocated now?
Didn’t see one person defend Trump’s actions today, except Trump himself who said:
Yup, that about sums it up.
Some of our other favorite takes of the day:
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