Stocks Whipsaw With S&P 500 on the Precipice of a Bear Market
Even more unusual is that last week’s sell-off stemmed directly from presidential policy.
“If they’re maintained, the tariff hikes announced April 2 represent a self-inflicted economic catastrophe for the United States,” Preston Caldwell, a senior U.S. economist for Morningstar Research Services, said in a blog post on Friday.
Chief executives have begun warning consumers that they should expect prices to increase on some groceries, clothes and other products. Consumers have said they intend to rein in spending on big-ticket items. Some auto companies have already announced production pauses overseas, as well as job losses domestically. Bank economists have raised the odds that a recession will hit the United States over the next…
