Economics
The S&P 500 Lost 11% of Value From Trump’s Trade War, Research Says
- Despite the rally, stocks have yet to turn neutral on the risk
- Wall Street tries to assesss market’s thinking on trade
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As U.S. equities extend gains from their December lows, a fresh debate is brewing on Wall Street: has the market priced in a U.S.-China trade deal? Quite the contrary, according to Renaissance Macro Research.
By the firm’s count, the S&P 500 could have been 11 percent higher than where it is now if President Donald Trump hadn’t adopted a protectionist stance on global commerce.