• Investors have been forced at an account With the apparent truth, Trump is serious about implementing a great tariff for many American commercial partners, if not all. While there are many upcoming disturbances, Morgan Stanley Jim Caron, Executive Director of Investment Department, said that traders are well equipped to liquidate how different scenarios affect the global economy and companies’ profits.

President Donald Trump 25 % tariff On imported vehicles and auto parts have pushed the shares of car to the bottom on Thursday, but the S&P 500 indicators and other main indexes that they hold relatively fixed. It can be another sign of investor confidence increasingly Markets It has exceeded “uncertainty in the peak tariff”, as Jim Caron, CEO of Morgan Stanley Investment Management, even if there is a lot of Disorders About the United States is the upcoming commercial policy.

The stocks rose to start the week after reports from Wall Street Magazine and Bloomberg She said that the administration was considering narrowing the scope of the so -called “Mutual definitions“The disclosure of April 2, which the president referred to as”Editing Day“Regardless of what is revealed, Karen told luck Earlier this week, it is better for investors to interact with these developments than it was earlier this month.

“There is a difference between uncertainty and volatility,” said Caron, the chief investment official in the Governor’s portfolio.

He said that the markets despise the first famous, because it is impossible to define, for example, whether the president is merely Hadith is difficult On taxes imports as a negotiating tactic. Now, investors were forced at the expense of the clear truth Trump serious On the implementation of a great tariff for many American commercial partners, if not all.

Of course, it is impossible to determine the extent of these definitions in advance, do not care about the sectors that will strike more or whether revenge on other countries will lead to my world Trade war. Caron said traders can determine how different scenarios affect the global economy and companies’ profits, which was called “fluctuation management”.

He said: “This is in the financial markets,” We are really equipped to deal and understand. “

Investors have already managed the economy expectations this year. Goldman Sachs recently Lower Her expectations for GDP growth from 2.4 % to 1.7 %, a number of Wall Street consensus said.

When it comes to the impact of definitions on inflation, Caron, head of the Federal Reserve, Jerome Powell, was martyred press conference Last week. The President of the US Central Bank said that the one -time shock will lead to “” will lead to “” “Transitional“Or temporary, inflation, with reference to the escalation reaction chain High prices It is still a threat.

The nature of Trump’s tariffs revived the S&P 500 correction lands on March 13, as the index fell by 10 % of its highest level ever in mid -February. Heavy technology Nasdak A 14 % complex decreased in that period, but both indexes have increased more than 3 % since then.

Will the “American exceptional” trade continue?

Karen said his team dealt with the decrease as an opportunity to buy in both America and Europe. In recent years, investors have been much better than their money in US shares more than anywhere. However, the chaotic bond of policy advertisements from the Trump administration, however, has markets that are “exceptional”.

While the S&P 500 decreased by approximately 3 % in 2025, the shares increased through the pond as a continent Prepare To spend defense and infrastructure significantly Fears From us to give up. Stoxx 600 increased in Europe by 7 %, while in Germany, where the government reached an agreement to cancel a trillion dollars lock at new expenses, the DAX index jumped in the country more than 12 % in that period.

Meanwhile, the S& P China 50 has increased more than 16 %, although Trump raised the tariffs on China by 20 % since the beginning of its term, Inflation The growing tensions between the world’s great powers. Optimism over the technology sector in China and the capabilities of artificial intelligence has increased significantly since Surprise success From the R1 Deepseek model. Joe Quinlan, who oversees the market strategy for wealth management departments Bank of America Merrill Lynch said that Wall Street is optimistic about the government’s efforts to enhance the demand for consumers.

He said, “China has really left Bazuka’s financial.” “They have really become aggressive with monetary policy.”

Director of the Monthly Fund of the Bank of America reconnaissance 69 % of the respondents have been found that the “American exceptional” has reached its climax, as they reported the largest decrease in allocating American stocks since Bofa began to conduct the survey in 1994.

Investors are careful when looking abroad. Stephanie Link, who runs a 6 billion dollar wallet as a strategic head of investment in HighTower Adviss, told, luck Earlier this month, she was cautious about chasing gains in Europe, saying that the most stringent organization weighs the margins of profit.

She feels the least comfort in China and its authoritarian system, noting that the mysterious Ali Baba founder disappeared Jack in. before handshake With Chinese President Xi Jinping at the event last month, a Master was slightly seen only in public places after criticizing the Chinese financial organizers in 2020.

The link is more up IndiaWhere I noticed companies like apple We are Move She said that their supply chains to reduce exposure to China – and the growing middle class will support growth.

It makes sense for investors to search for some diversification, as the S&P 500 is trading about 22 times from the profits forward. The average of 20 years of the index was about 16, According to To FactSet.

“I think we have an exceptional American, but I think it comes at a very high price,” Link said earlier this month.

At least, some investors feel that the customs tariff image gives up a little.

This story was originally shown on Fortune.com

https://fortune.com/img-assets/wp-content/uploads/2025/03/GettyImages-2207069975-e1743105933451.jpg?resize=1200,600
2025-03-28 13:05:00