Paused

On Wednesday, President Trump announced a 90-day pause––during which, most countries will face a “substantially lowered reciprocal tariff” of 10%.

The White House pitched the move as the “art of the deal” in action, saying it has kick-started trade negotiations with dozens of countries. China, notably, isn’t one of them. Trump further hiked Chinese tariffs to a cumulative 145%, citing the “lack of respect that China has shown to the world’s markets.” Earlier Wednesday, China announced 84% retaliatory duties on American imports.

It’s led to an (extra) wild week on Wall Street. 

Following the pause, the S&P 500 rose 9.5%—its third-largest single-day gain since WWII—and the Nasdaq climbed 12%, nearly erasing a week of losses. But… markets gave up some of those gains yesterday, with the S&P falling 3.5%.

ETERNAL PERSPECTIVE
Whether your portfolio is booming, tumbling, or nonexistent, remember: you won’t bring your earthly treasures to heaven. Stewarding money well is important, but keep your focus on the Giver rather than the gifts. 

“For you know the grace of our Lord Jesus Christ: Though he was rich, for your sake he became poor, so that by his poverty you might become rich.” 
2 Corinthians 8:9 (CSB) (read full passage)