The S&P 500 has dropped 1.6% while the Nasdaq is taking an even bigger hit — down a painful 2.5%.
What's behind all this? Tariffs. Again.
Everyone's holding their breath for Wednesday when the administration's set to unveil new "reciprocal tariffs" — basically slapping levies on countries that already tax our exports. I've spoken with several portfolio managers who are genuinely concerned about what this means for global trade.
"This feels different than previous trade tensions," James Whitaker at Meridian Capital told me yesterday. "The market's already jittery about inflation, and now this."
Looking at the numbers, the DJIA (^DJI) is sitting at 41,701.94, still up 0.28% from yesterday but clearly under pressure in futures trading. The tech-heavy Nasdaq (^IXIC) at 17,099.11 is where the real pain is happening — down 1.29% and futures suggesting more losses ahead.
I'm particularly watching retail stocks like Walmart (WMT) and Target (TGT), both down about 2% in pre-market trading. These companies rely heavily on imported goods, and any new tariffs could squeeze their already-thin margins.
My take? We might be in for a bumpy ride this week. If you're making any moves in this market, maybe wait until after Wednesday's announcement before doing anything drastic.
