CNBC Daily Open: Auto tariffs put markets in reverse gear [CNBC]

Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: CNBC
When U.S. President Donald Trump won the 2024 presidential election in November last year, markets were in a relatively buoyant mood. Talk of deregulation and tax cuts drove consumer sentiment, while easing inflation led investors to believe multiple Fed rate cuts would come, boosting the stock market. Now, there seems to have been a stark reversal in expectations. Trump's tariff announcements and, sometimes, walking back on the threats have sent markets on a rollercoaster ride. This comes as investors are anxious about how his retaliatory tariffs will affect the broader U.S. economy, which is already showing some signs of weakness. The looms large, like the sword of Damocles over the stock market. The question is, will the sword actually cut market
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