Trump tariffs and the stock market today

Liberation Day, yesterday April 2, 2025, was called that by President Trump and was an interesting one. Tariffs that are now going into place are higher than were previously expected by the economic experts. The market is currently undergoing a large drop on the order of 3 to 4% (on 4/3/2025), depending on the index. It is a tough day to look at your savings and retirement. So don’t do it if it will give you heartburn. At Meyer Financial Advisors, we have made a plan for your financial future based on all the information we have at our fingertips. Nothing has changed from this past weekend to today, from when President Biden was in power to now President Trump. We knew going into this presidency that Trump would likely be chaotic in many ways. The tariffs are just one example. The tariffs could go into place, be updated, changed, removed, reduced, increased over the next day, week, month, who knows. The key is to stick to the financial plan we have in place, review it, update it and keep invested. We want to avoid emotional decisions and changes. Volatility in the market, especially stocks, is expected. There will be down days, maybe more to come as the market digests and reacts, and there may be days the market goes up. Companies will make adjustments, the economy will keep chugging along and life will go on.

The key to remember is to make a financial plan for yourself and that plan has not changed. Staying the course is the key to success in that plan. If you want to discuss your own portfolio, give me a call. I'd be happy to rant and rave as you see fit or can tolerate.