Stocks are nosediving again this afternoon, as tariff fears take hold again, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Risk-off end to the week
US stocks are at a one week low, oil is down, gold is up and volatility is surging. This is a classic risk-off move that shows how fragile sentiment remains. After a few days of calm on the tariff front, Trump’s auto tariffs have really spooked investors, who are once again slashing equity exposure. Small caps and tech have led the way lower on Wall Street, as mid-March’s risk rebound fizzles out.
All eyes on 2 April
Markets find themselves in a bit of a macro lull in the early part of next week, but Tariff Day on 2 April promises to more than make up for a sleepy end to Q1. Added to that is Friday’s payroll reading, where the first signs of the government layoffs may start to emerge. Given Donald and Elon have barely begun their mission to cut the Federal workforce, next week’s payrolls look to be just the start, fuelling worries about the US economy.
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