00:00 Speaker a
Let us provide you with three things you need to know today. First, U.S. stock futures are sinking this morning as investors prepare for the Trump administration’s tariff deadline. President Trump said he plans to start quotations on all countries to start driving the reciprocal tariffs, exploring any speculation that could limit the scope of taxes. Trump intends to launch so-called reciprocity tariffs on April 2, the heart of his plan to rebalance global trade and promote U.S. manufacturing plans, while collecting tariff payments to fund his domestic policy priorities.
00:49 Speaker a
Tariff uncertainty prompted Goldman Sachs to cut its S&P 500 target for the second time this month. The strategist saw the benchmark ended the year around 25,700, and that was their previous 6,200-year estimate. The bank's economists also raised their forecast for this year's recession from 20% to 35%. They also believe the Fed has tripled this year due to tariffs on economic growth.
01:19 Speaker a
Additionally, investors are preparing for the worst start since 2022 after the second quarter began, with the outstanding seven cohorts so far down 16% so far. The group's tech stocks extended this morning with the wider market as investors exhausted reciprocity tariffs.
