Hey Trader,
Monday morning's open experienced a significant decline throughout most of the market, with two major indexes feeling the pain.
The S&P 500 and Nasdaq both hit a six-month low this morning as investors are anxiously awaiting the impending tariff announcements by President Donald Trump expected on Wednesday of this week.
The "reciprocal" tariffs on all trading partners that the President plans to announce could include a 25% charge on imported passenger vehicles and key car parts, making this year's shoulder season a little less favorable.
I'll still be cruising in my McLaren, but how many other Americans will be enjoying their sports cars?
And how many of them will be driving a Tesla?
Tesla shares dropped over 6% when the market opened today, and it's shares are down nearly 15% in the last month.
Another tech monster isn't faring much better, Nvidia fell 5% today, and almost 16% in the last month.
This decline has led financial institutions to adjust their economic forecasts... Goldman Sachs, for one, has increased the probability of a U.S. recession to 35%, citing the concerns over rising tariffs and potential stagflation.
So, what can we do?
Hold tight for now...
We may have a bumpy road ahead, but downturns in the market can often lead to tremendous buying opportunities.
If you're a subscriber to my alerts, I'll be sure to let you know when the next potential signal hits.
Til then...
Regards,
Andrew Keene
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