US Stocks Rout Escalates as S&P Heads For Worst Week Since Covid

Disruptive U.S. policies have been recognized as the biggest risk to the global outlook all year,

JPMorgan said in a client note

We now see deeper estimate cuts likely,

the brokerage said in a note, as per TheFly

No one wins from a trade war, with the US economy set to be adversely impacted as much as, if not more, than Europe,

said analysts at Barclays bank

It's a major shock for the global economy,

said Antoine Bouet, head of the French economic think tank CEPII

Thirteen percent of global imports are affected by Trump's follies,

he told AFP

While uncertainty remains elevated, it is now becoming clear that the tariff increases will be significantly larger than expected,

he said

The overall hit from tariffs on Britain’s GDP is perhaps only 0.2% or so. Certainly not enough to decisively change the outlook for UK growth. And remember there are some decent tailwinds for growth this year, notably from government spending.”

James Smith, an economist at the analysts ING, said

Markets are crashing because markets are based on the stock value of companies who today are embedded in modes of production that are bad for the US,

he claimed

Paul Johnson (writer)tank

I would have thought the central expectation now must be that if she is sticking to her fiscal rules, she’ll need to increase taxes in the autumn by possibly some significant amount,

said Paul Johnson, the director of the Institute for Fiscal Studies

Jerome Powellfed Chair

CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!”

Despite fears his trade war will send prices higher for Americans, Trump also called on the independent Federal Reserve to cut interest rates, urging Powell

We want to do everything in our power, and we’ll continue to do everything in our power to get the best possible deal for British industry, working closely with them to protect prosperity and jobs here in the UK,

she said

I think comments will be disappointing for those who believe that the Fed is going to step in anytime soon,

said Peter Cardillo, chief market economist at Spartan Capital Securities in New York

A lot of investors I've talked to have just said in this kind of environment, let's go to cash and just wait it out,

Meckler said

It's sort of the worst fears of where the tariff program was headed,

said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey

You may want to slow that down and pick that back up once the market recovers, ... but it all comes down to having that conversation with your adviser and your portfolio manager.”

Mukherjee said

It is hard to roll with the punches when some days you feel like your portfolio is being pummeled,

said Brian Jacobsen, chief economist at Annex Wealth Management

Investors with ample time to stay invested should remember how lucrative patience has been over the last 15 years,

Kates said

Data has shown, historically, that no one can time the market,

said Odysseas Papadimitriou, CEO of WalletHub

Michelle Singletaryamerican writer

If you’re 15 or 20 years away from retirement, stay the course. You still have a lot of years ahead if you plan to retire in your early or late 60s. And because you still have time, you don’t want to be too conservative and miss out on higher returns,

Michelle Singletary, a personal finance columnist for The Washington Post wrote

I would still say they should be saving. Should they be investing in an S&P 500 index? Maybe not,

Sarah Behr, a registered investment advisor and founder of Simplify Financial Planning told USA Today