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U.S. is 'Environment of Chaos' Created by Tariffs: Dr. Rebecca Homkes
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April 3, 2025
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5:01Now PlayingDr. Rebecca Homkes, Education Faculty at Duke Corporate, breaks down how companies are responding to tariffs and why the new policy might not mean the return of American manufacturing.
he stock market rout unleashed by President Donald Trump’s tariff gambit is diverting Wall Street’s attention from a key data point that would otherwise command it: the monthly jobs report due Friday.
Money managers have rolled back exposures to American equities to levels not seen since November 2023, according to a poll by the National Association of Active Investment Managers. Hedge funds dumped global stocks at the fastest rate in 12 years in March, according to Goldman Sachs Group Inc. data.
As worries mount that the president’s trade policies will unleash a global recession, equity bulls conditioned over the past two years to see any pullback as a buying opportunity now say the risks are too great. From computer-driven funds to stock pickers, investors are pulling money out of the market that by some measures are the most defensive in over a year.
All of which makes for an unusual setup ahead of one of the most closely watched economic data points. The monthly government jobs report informs views on the Federal Reserve’s interest-rate path and offers clues on the rate of inflation. But now, regardless of what it shows, investors see it as a lose-lose scenario, giving them little reason to stay in risk assets.
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