CNBC's "Fast Money"
Tariffs Crush Global Markets… And Volatility Swings Ahead Of Tomorrow’s Jobs Report 4/3/25
Apr 3, 2025
David Zervos, Jeffrey's chief market strategist and CNBC contributor, dives into the chaos created by recent tariff announcements and their dramatic impact on global markets. He breaks down how tariffs are significantly shifting investor sentiment and threatening consumer-facing stocks. The conversation touches on the looming jobs report and the volatility it could trigger. Zervos discusses how companies are navigating these economic challenges while questioning the fairness of trade policies, all while forecasting potential market adjustments ahead.
49:12
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Quick takeaways
- The recent tariffs imposed by President Trump led to a significant market sell-off, with the S&P and Nasdaq experiencing substantial declines across various sectors.
- Retail stocks faced severe impacts from the tariffs, as companies like Kohl's and RH reported alarming drops in their stock values due to rising import costs.
Deep dives
Market Reaction to Tariff Announcement
A major sell-off in the stock market occurred following the announcement of a new tariff regime by President Trump, resulting in the S&P dropping nearly 5% and the Nasdaq losing almost 6%. This marked the worst day for the Nasdaq since the beginning of the pandemic, with significant declines across various sectors including technology and consumer stocks. The volatility index, VIX, spiked as investors reacted to this market shock, reflecting heightened uncertainty. The abrupt nature of the tariff announcements and their widespread implications created a ripple effect across financial markets, leading to a re-evaluation of investment strategies and stock valuations.
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