The New York Stock Exchange

Tariffs, Markets & What’s Next

04:08

In this month’s Economic & Market Outlook, Partner and Chief Equity Strategist Jim Lebenthal explores how Trump’s “Liberation Day” tariffs may continue to play out in the markets and their impact on the economy.  

Key Takeaways:

  • Equity markets have recovered

  • The Treasury market has stabilized

  • These markets were thrown into turmoil after the tariff announcements

  • Indication of a short-term market slowdown

  • 2025 shows a 9% growth over 2024

  • A decline from 14% at the start of the year

  • 2026 growth estimates are again projecting a 14% growth over 2025

  • Keep a diversified portfolio

  • Stay the course

  • International equity and bond markets are up

  • S&P 500 and portions of U.S. equities are down