Tariffs, data spikes, and having a ‘reasonable level of paranoia’
History doesn’t repeat itself, but it rhymes. Covid brought a “new normal” and a multitude of lessons that markets—and people—are still learning. New tariffs and global economic uncertainty mean it’s time to apply them, ready or not.
When I spoke with Chris Isaacson yesterday, it was 8:30 a.m. in New York. China had just announced it would raise tariffs on US goods starting on April 10. There was an overnight selloff in US Treasuries. The Dow, Nasdaq, and S&P futures indexes were in the red.
Isaacson, the chief operating officer for Cboe Global Markets, didn’t seem concerned—or, at least he wasn’t having a Gary Friedman moment. He’s seen this kind of volatility before, if not due to tariffs. Covid. Brexit. Presidential
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