Overview

• The S&P 500 has declined approximately 8% since Trump’s inauguration, marking the worst first 100-day market performance since Gerald Ford in 1974.
• Historically, the S&P 500 averages a 2.1% gain during a president's first 100 days, highlighting the unusual nature of this downturn.
• Investor optimism following Trump’s election, buoyed by promises of tax cuts and deregulation, shifted to sharp losses after tariff announcements in April.
• The market briefly entered bear market territory earlier this month, falling 10% in two days after reciprocal tariff measures were revealed.
• A 90-day tariff pause announced by Trump provided temporary relief, but economists and investors remain concerned about recession risks.