More of the Same

Everyone is now an expert on trade economics and tariffs... they learned it on TikTok last week.

Market outlook:

• S&P 500 futures drop 20% from peak: bear market label hinges on today’s close

• Bond rally intensifies with 10-year yield below 4% and 2-year hitting lowest level since September 2022 at 3.58%; traders now pricing in five Fed rate cuts in 2025

• Oil plunges below $60 for the first time since April 2021; WTI drops 3% Sunday following 12% weekly decline

• Over 50 nations contact the White House to begin trade negotiations following tariff shock; Taiwan offers zero tariffs while Israel and India pursue exemptions

• Hedge Fund manager Bill Ackman urges 90-day tariff pause to avoid "economic nuclear winter"; JPMorgan's Dimon warns effects are hard to reverse

Good morning:

We awoke this morning to what could become the fastest bear market in history.

If the market closes at these levels, the S&P 500 will be down over 20% from its peak.

Hedge funds are facing their biggest margin calls since COVID, and Wall Street strategists are scrambling to slash their targets.

The VIX spiked to 60 this m…