Trading desks on Wall Street anticipate a further decline of the S&P 500, despite the recent stock market rise. Upcoming tariffs from President Donald Trump could pressure the market.
Traders' Expectations on Wall Street
Goldman Sachs and Bank of America warned about increased volatility following the announcement. Economic risks posed by new tariffs could negatively impact the market. 'The introduction of tariffs is a signal for more selling pressure,' noted the banks.
Market Surges, Tesla Leads
While the S&P 500 rose 0.4%, Tesla showed growth. This was due to reports about Elon Musk potentially stepping back from his advisory role.
Risky Tariff Situation
The tariffs announced by the administration could act as a ceiling rather than a floor. Meanwhile, Trump's administration is still debating possible changes.
Despite a short-term rise, investors are concerned about the long-term impacts of the anticipated tariffs. The market may face further challenges without clarity on trade measures.
