Trade wars and tariffs aren’t the biggest culprit if stocks stumble from here

Mark Hulbert
Trade wars and tariffs aren’t the biggest culprit if stocks stumble from here

Consider that a tweet from President Donald Trump about tariffs can send the market spinning or soaring. In fact, of course, the matter is far more complex than what Trump tweetsFor example, the S&P Global Sales Report, which was released in early August, shows that the share of S&P 500 (SPX) sales from outside of the U.S. has declined for at least a decade — sliding by five percentage points since 2008, as the chart below indicates. Furthermore, trade protectionism wasn’t even on the general public’s radar until Trump took office.