Traders at the NYSE yesterday. Photo: Bloomberg
Global markets are telling conflicting stories about the possible longer-term impact of US tariffs on growth, a schism that investors say means either stocks or bonds could see a steep correction once it’s clear which is right.
And US stocks retreated from all-time highs yesterday as president Donald Trump intensified his trade offensive, sending the dollar higher against most of the world’s major currencies. Concerns about the potential inflationary impacts of tariff hikes weighed on Treasuries.