President Trump may believe that it's easy for the United States to win a trade war. But Wall Street begs to differ.
The Dow and S&P 500 are each down more than 4% since the beginning of May, while the tech-laden Nasdaq has fallen more than 7%. The slide in tech stocks even briefly pushed that index back into correction territory earlier this week. The recent bout of stock market volatility has been triggered almost entirely by escalating tensions between the United States and big trading partners China and Mexico. Investors are concerned about what effect tariffs will have on the global economy.
Levine told CNN Business in April that she was particularly concerned about protectionism and tougher trade policies. She said she was especially worried that the United States and the European Union might enact higher tariffs on each other. The Fed is talking less about raising ratesThere is one encouraging sign for stocks that Siegel and Levine might touch on: the possibility that the Federal Reserve could lower interest rates if a trade war starts to damage the US economy.
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