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I spent most of Thursday night here in the office watching Asian and European markets carefully for clues as to what today's trading conditions might hold for us when U.S. markets opened. The impact looked limited, and, in fact, the major indexes opened slightly higher as traders continue to weigh China's muted response to the president's tariffs.
So let's start there.
The president announced $60 billion in additional trade tariffs yesterday, which sent the markets into an immediate tailspin that wiped roughly $768 billion off the books. That's an asymmetrical – meaning uneven – response if I've ever seen one.
It's a situation I've seen a handful of times in my career over the past 35 years, which is why I'm communicating with everyone today.
It's very much a "good news, bad news" moment.
The bad news is that situations like this are rarely "one and done" – meaning that it's not the last time we will see such volatility.
In fact, I think volatility will become our constant travelling companion in the weeks ahead.
So here's what that means for us.
About the Author
Keith Fitz-Gerald has been the Chief Investment Strategist for the Money Morning team since 2007. He's a seasoned market analyst with decades of experience, and a highly accurate track record. Keith regularly travels the world in search of investment opportunities others don't yet see or understand. In addition to heading The Money Map Report, Keith runs High Velocity Profits, which aims to get in, target gains, and get out clean, and he's also the founding editor of Straight Line Profits, a service devoted to revealing the "dark side" of Wall Street... In his weekly Total Wealth, Keith has broken down his 30-plus years of success into three parts: Trends, Risk Assessment, and Tactics – meaning the exact techniques for making money. Sign up is free at totalwealthresearch.com.