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    Home»Stock Market»Dow jumps 580 points, S&P 500, Nasdaq have best day since May as Wall Street bounces back
    Stock Market

    Dow jumps 580 points, S&P 500, Nasdaq have best day since May as Wall Street bounces back

    August 4, 20251 Min Read


    As President Trump’s tariff policy pans out, UBS strategists signal it won’t cause a recession or spell the end of a bull market.

    “Our base case remains that US tariffs will eventually settle around 15%,” Ulrike Hoffmann-Burchardi, UBS Global Wealth Management’s chief investment officer for Americas and global head of equities, wrote in a note on Monday morning.

    “While this would be the highest since the 1930s, and six times higher than when Trump returned to office, we do not expect it to cause a recession or end the equity bull market.”

    In recent days, Trump has unleashed a flurry of trade deals, including a 90-day reprieve on goods imported from Mexico and 15% tariffs on EU goods.

    On Friday, Trump signed an order to hike tariffs on Canada to 35%, while he kept a baseline minimum rate of 10% across all partners.The US is set to implement duties this week.



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