Wishing upon a meteor that tariffs will not trigger inflation

U.S. President Donald Trump introduced Tuesday that copper and pharmaceutical imports will face tariffs of fifty% and as excessive as 200%, respectively.

Following the information, the S&P 500, which hit a number of file closes final week, floor to a halt and closed largely flat.

That stated, it is a muted response for such hefty tariffs, suggesting traders are both dismissing Trump’s tariffs as hole threats, or discounting the results they may have on inflation and the financial system.  

Such complacency might be a mistake, as some market watchers have cautioned. It additionally mirrors the White Home’s stance on the results of tariffs, which could not be a place traders need to take.

On Tuesday, Stephen Miran, chairman of Trump’s Council of Financial Advisers, instructed CNBC’s “Squawk Field” that the chances of tariffs resulting in greater costs is a “uncommon occasion” like “pandemics or, or meteors or no matter.”

“I do not imply to be dismissive,” Miran clarified. “All I imply to say is that prediction is troublesome, and we must always all the time converse when it comes to odds and prospects.”

For the file, there is a 0.004% likelihood of an asteroid that may fly close to Earth in 2023 putting our planet, based on NBC Information.

International inventory markets’ greatest and worst performers in a Trump-fueled 2025 — and the place they’re headed

International shares have surged within the first half of 2025, whilst U.S. President Donald Trump introduced steep tariffs on imports to america. The MSCI All Nation World Index, which measures the efficiency of greater than 2,500 shares from each developed and rising market equities, rose practically 10% because the begin of the 12 months to hit a file excessive on July 4.

“The worldwide commerce conflict that the U.S. began has been, and can proceed to be, the catalyst for this ex-U.S. outperformance,” stated Peter Boockvar, chief funding officer at Bleakley Monetary Group.

— Lee Ying Shan