The shine of the election has run into uncertainty about tariffs and elevated P/Es. Just about all of the positive aspects after the open on post-election morning are actually gone and the S&P 500 is now threatening the opening hole whereas the Nasdaq has already taken an honest chunk.
Trump’s cupboard picks are leaning closely on “guarantees made, guarantees saved” and the market is questioning concerning the greatest guarantees: 60% tariffs on China, 10% throughout the board and mass deportations of 11m unlawful immigrants.
Nasdaq each day
Closing adjustments:
- S&P 500: -1.3%
- Nasdaq Comp: -2.2%
- DJIA: -0.7%
- Russell 2000: -1.5%
- Toronto TSX Comp: -0.7%
On the week:
- S&P 500: -2.1%
- Nasdaq Comp: -3.1%
- Russell 2000: -4.0%
- Toronto TSX Comp: +0.5%
