episode: 112

Market Volatility and Trump’s Tariff Wars

April 14, 2025

Tariffs, Turmoil, and Tactics

What sparked the most dramatic stock market volatility in recent memory? Why did tariffs suddenly become the centerpiece of U.S. economic policy? How should investors respond when uncertainty hits at lightning speed? We explore all of this—and more—in today’s deep dive on market turmoil triggered by Trump’s sweeping tariff announcements.

Keith Matthews and Marcelo Taboada break down the global shockwave of “Liberation Day,” explain how markets and investors reacted, and offer critical lessons on staying invested when storms hit. From VIX surges to record—setting daily returns, they connect the dots between policy, volatility, and long-term perspective.

If you’ve ever felt anxious during a market correction – or wondered if “this time is different”—this episode will guide you through the recent market turbulence with evidence-based insight and calm.

Thank you for tuning in!

Special note: Charts referenced in this podcast can be viewed in the transcript. Download the full reports below.

Navigating Market Volatility in Uncertain Times

Today’s show focuses on recent market volatility and U.S. tariff policy (0:55)
Marcelo introduces the geopolitical backdrop and tariff volatility (1:34)
Liberation Day and Trump’s tariff announcement explained (2:56)
Historical impact and global scale of the tariffs (3:30)
VIX and other measures of market fear during this period (3:48)
S&P 500 drops 10% in two days after Liberation Day (4:13)
Market expectations before the announcement were wrong (4:59)
Global reach and economic shock of the announced tariffs (5:20)
Canada, EU, Japan, China: Who was affected and how (5:38)
VIX compared to past crises like COVID and 2008 (6:06)
How the bond market reacted and its deeper message (6:33)
Reversal of tariffs and a 90-day pause sparks 9.5% S&P rebound (7:55)
Lessons on timing the market and importance of staying invested (16:58)
Performance failures of tactical asset allocation strategies (19:13)
How markets recover after recessions and bear markets (24:03)
Evidence-based investment philosophy and long-term planning (28:22)

And much more!

Mentioned in this Episode:

Thanks for Listening!

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