00:00 Speaker A
Let’s get you the three issues that you must know right this moment. First up, US inventory futures are sinking this morning as buyers brace for the Trump administration’s tariff deadline. President Trump stated he plans to begin his reciprocal tariff push with quote all nations, curving any hypothesis that he may restrict the preliminary scope of the levies. Trump set to launch so-called reciprocal tariffs on April 2nd, a centerpiece of his plan to rebalance world commerce and enhance US manufacturing whereas amassing tariff funds to fund his home coverage priorities.
00:49 Speaker A
And the tariff uncertainty prompting Goldman Sachs to chop its goal for the S&P 500 for second time this month. The strategist seeing the benchmark ending the 12 months round 25,700 versus their earlier estimate of 6200. The financial institution’s economists additionally elevating their forecast for a recession this 12 months to 35% from 20. In addition they see the Fed slicing charges 3 times this 12 months as tariffs weigh on financial progress.
01:19 Speaker A
Plus buyers are making ready for the beginning of the second quarter after the tech commerce noticed its worst begin to the 12 months since 2022 with the magnificent seven cohort down 16% 12 months so far. The group of tech shares extending declines this morning with the broader market as buyers brace for reciprocal tariffs.
