JPMorgan has adopted a more bearish view of U.S. stocks as the U.S. economy is less optimistic due to President Donald Trump’s new tariffs that rose to high on Tuesday. Trump’s tariffs – including a 25% tariff on all Canadian and Mexican imports, and an additional 10% tariff on Chinese goods – caused widespread danger to stocks during the first two trading days of March. The S&P 500 fell 1.22% on Tuesday after losing as much as 2% intraday. Blue chip Dow Jones Industrial Average fell 1.55%, gliding as much as 1.95% at conference lows, while the technology-heavy Nasdaq Complex fell 0.35% after a brief decline of 2.14%. JPMorgan traders are moving into bearish camps due to retaliation from all three U.S. trading partners. : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : Although tariffs may lead to consumers being more picky, the overall macroeconomic situation still looks positive, supported by lower interest rates, a stable job market and strong consumer savings, Link said. Link added that the market decline on Tuesday could actually contain a silver lining for investors. “To this day, we still have a technology sell-off for the most part,” she said. “Today, now you have expanded. You actually have the corrections from leaders, and that’s OK. I think this is your opportunity – finance, especially in the industry, because I’m not backing off because I’m not withdrawing from manufacturing and the Renaissance we’re going to see here. Manufacturing will actually benefit from (company) from here, which will benefit your facility.
JPMorgan Chase traders say U.S. economic growth expectations could be “crater” | Real Time Headlines
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