Table of Contents

• S&P 500

• Trump Tariffs

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S&P 500

The S&P 500 has now erased all post-election gains, closing at 5,778.15 after investor concerns over Trump’s tariffs led to a market decline. Initially, stocks surged after his victory due to hopes of deregulation and tax cuts, but trade tensions have reversed those gains. The Russell 2000 has fallen 8%, while industrial and energy stocks have also dropped since Election Day. Bank stocks remain positive but slipped 3.5% on Tuesday. As tariffs on Mexico, Canada, and China take effect, Canada and China have already responded with retaliatory measures, while Mexico is expected to follow soon.

Trump Tariffs

President Trump’s new 25% tariffs on imports from Mexico and Canada took effect, along with higher duties on Chinese goods, triggering global trade tensions. The tariffs, aimed at pressuring U.S. trade partners over fentanyl concerns, could disrupt $2.2 trillion in trade and drive up consumer prices. Canada retaliated with C$30 billion in tariffs, while Mexico promised a response. China imposed 10-15% tariffs on U.S. goods and restricted 25 American firms. The market reacted negatively, with stocks falling and concerns rising over economic contraction. Retailers like Target and Best Buy warned of price hikes, while U.S. GDP forecasts turned negative.

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