The Decibel How to protect your money during a trade war
Mar 13, 2025
Rob Carrick, a personal finance columnist for the Globe and Mail and co-host of the Stress Test podcast, dives into the current economic turmoil caused by trade wars and tariffs. He discusses how Canadians can protect their finances amid market volatility and recession fears. Rob emphasizes the importance of diversifying investments and maintaining cash reserves for short-term goals, especially for those nearing retirement. He also highlights the benefits of high-interest savings accounts and suggests seizing opportunities in the current market despite economic uncertainties.
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Market Reaction to Tariffs
- The stock market has reacted to tariffs with moderate declines, not a panic.
- This reaction indicates concern but not a crisis like 2008 or the pandemic.
Tech Stock Decline
- US tech stocks, previously high-performing, have led the decline.
- This suggests a correction of inflated prices rather than a broad market panic.
Global Market Sentiment
- Negative market sentiment tends to be a global phenomenon, influencing both US and Canadian markets.
- However, local factors can also play a role, and Canada hasn't been hit as hard as the US despite its vulnerability.