Brutal Reversals in Stocks Shows Perils of Trump Tariff Swings
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Another day of violent reversals on Wall Street, including one that took the S&P 500 to the brink of tripping circuit breakers, has laid bare the difficulties facing investors trying to navigate one of the least coherent trade policies in modern history.
US stocks sank anew Thursday, 30-year Treasury yields spiked higher, oil tumbled and the dollar fell versus major peers. All of the moves ebbed and flowed in sometimes violent fashion as the session wore on. The S&P 500’s 3.5% drop unwound nearly half the rally after President Donald Trump paused the harshest tariffs on most trading partners yesterday afternoon. Volatility gauges remained elevated.