In late March and early April 2025, President Trump announced his plans to “level the international trade playing field” by instituting reciprocal tariffs on nations that had unfairly high tariffs on US exports. Many academic economists quickly sounded alarms on how tariffs historically increase inflation, and how many businesses reliant on overseas manufacturing will be negatively impacted. The S&P 500 lost 687 points in a week.
By April 21, the S&P 500 and its constituent stocks began to solidly recover, picking up steam throughout May, and coming within striking distance of a new 52-week high early in June.
Certain stocks’ selloffs were larger overreactions than with others. Those stocks, whose fundamentals had justified their March levels and trajectories, have come roaring back. A number of them have since announced additional news that implies their current surges can be full blown bullish runs. See which ones.
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