Wall Street's Darkening Trade-War Gloom Means Tossing Old Advice
- RBC Capital Markets, Goldman Sachs lay out most-exposed stocks
- Wells Fargo goes the opposite route, recommends adding to risk
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More than three weeks have passed since President Donald Trump’s tweets fanned the tariff fire. Now, Wall Street is coming to terms with a trade war that is here to stay.
“A trade war is now everyone’s base case,” said Peter Tchir, head of macro strategy at Academy Securities. “The reality of a trade war is finally sinking in. Little or no progress seems to be occurring. If anything, both sides seem to be digging in their heels.”