The S&P 500 approached correction territory Tuesday, closing at 5,572.07 after a volatile session driven by concerns over President Trump’s tariff policies.
Investors are grappling with uncertainty after Trump initially announced a 50% tariff on Canadian steel and aluminum imports, only to revert to the planned 25% rate hours later when Ontario’s Premier backed down from implementing a surcharge on electricity exports.
Despite the negative market sentiment, Morgan Stanley’s Andrew Slimmon suggests the selloff creates buying opportunities, stating, “I don’t think the goal of the administration is to drive the economy into recession.” The market volatility index has surged about 55% this year.