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 at the moment are gone and the S&P 500 is now threatening the opening hole whereas the Nasdaq has already taken a good chew.
Trump’s cupboard picks are leaning closely on “guarantees made, guarantees stored” 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%
