If you read most of the analysis being published over the last two days, you would almost assume that the S&P500 should be crashing or be in a bear market. Yet, we are only 4% off the all-time highs struck early this year in the S&P, whereas the Nasdaq and Russell have made new higher highs this summer.
In fact, if you had read the analysis put out over the last two days when further tariffs went into effect, you would have to assume that Friday should have been a major down day in the US markets. This is just an excerpt from a bearish author’s recent article on the US market:
“Virtually all of the market headlines this week centered around the Friday imposition of tariffs by the U.S. on $34 billion in Chinese goods and the immediate reciprocation from Beijing. The duties kicked in at one minute after midnight and marked the most serious escalation yet in the burgeoning global trade war.”
