Covid. War. Inflation. Recession fears. The stock market can't keep up
CNN
It's been a year full of worries for investors, from geopolitical conflict to inflation to the pandemic, and it doesn't look like the concerns will ease anytime soon.
The combination of these major macroeconomic and geopolitical issues will make it difficult for stocks to climb out of their hole and finish 2022 in positive territory, some experts say.
"There are way too many headwinds to expect good returns for stocks this year," said David Spika, president and chief investment officer of GuideStone Capital Management.
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If paying $1,000 for a new iPhone already sounded expensive, consumers should brace for even greater sticker shock later this year. President Donald Trump’s tariffs on foreign goods – specifically those sourced from China – are expected to heighten the prices of everyday tech products, from iPhones to laptops, cars and even smaller gadgets like headphones and computer mice.
The US stock market, fresh off its third-best day in modern history, is sinking back into reality: Although President Donald Trump paused most of his “reciprocal” tariffs, his other massive import taxes have already inflicted significant damage, and the economy won’t easily recover from the fallout.
CNN is tracking price trends for various household staples each month as new factors threaten to increase costs.
The US stock market, fresh off its third-best day in modern history, is sinking back into reality: Although President Donald Trump paused most of his “reciprocal” tariffs, his other massive import taxes have already inflicted significant damage, and the economy won’t easily recover from the fallout.
The European Union has announced it is putting retaliatory measures against the United States on hold for 90 days after US President Donald Trump unveiled a similar pause Wednesday.
OpenAI countersued Elon Musk Wednesday, citing a pattern of harassment by Musk and asking a federal judge to stop him from any “further unlawful and unfair action” against OpenAI, in a court case over the future structure of the firm that helped launch the AI revolution.
What was supposed to be a historic, era-defining trade war launched by US President Donald Trump against range of countries has, for now, narrowed in on a singular target: China.
“I guess they say it was the biggest day in financial history,” President Donald Trump told reporters Wednesday afternoon. Later, in an apparent hot-mic moment, he told a fawning senator that the market was up almost seven percentage points. “Nobody’s ever heard of it. It’s gonna be a record.”
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President Donald Trump announced a complete pause on all the “reciprocal” tariffs that went into effect at midnight, with the exception of China.
US Trade Representative Jamieson Greer is set to testify Wednesday to House Ways and Means Committee on President Donald Trump’s aggressive trade agenda as reciprocal tariffs go into effect.
China unveiled retaliatory tariffs of 84% on imports of US goods on Wednesday, matching additional tariffs imposed by US President Donald Trump earlier in the day and further inflaming a trade war between the world’s two biggest economies.
“Liberation Day” came and went, with President Donald Trump’s sweeping new tariffs battering markets, unsettling the global order, and prompting businesses and households to reconsider their spending.