Overview

• President Trump confirmed plans for reciprocal tariffs on all trading partners, including a 25% duty on automobile imports, starting April 2.
• The S&P 500 and Nasdaq have entered correction territory, with the worst quarter for U.S. stocks since 2022 expected to close today.
• Goldman Sachs raised the probability of a U.S. recession to 35%, citing inflationary pressures and economic risks tied to the tariffs.
• The auto industry anticipates significant disruptions, with car prices expected to rise by $5,000 to $10,000 per vehicle due to increased costs.
• Consumer confidence has plummeted to a 12-year low, reflecting widespread economic uncertainty and fears of prolonged trade tensions.