Trump’s Second Term Requires a New Playbook for Equity Investors
- Stocks showing fragility amid really high expectations: Sohn
- Asset managers’ equity exposure elevated versus 2017: JPMorgan
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
President Donald Trump’s mercurial approach to his signature tariffs whipsawed markets last week. And investors trying to position their equity portfolios to manage this ongoing uncertainty are finding the playbook from his first term offers little help.
What hasn’t changed is Trump’s strategy of pledging aggressive levies on trading partners and then quickly backtracking, either delaying them or canceling them completely. What has changed is basically everything else.