March trading has started with a bang. The Dow closed down 400 points today after two big events. President Trump announced tariffs on steel and aluminum and the new Fed Chair, Jerome Powell, testified in front of the Senate Finance Committee.
Chad Leat is a former Citigroup and JPMorgan Chase executive. Leat joins Cheddar to break down the market movement and recent volatility.
When asked about President Trump's announcement about tariffs, Leat says good and fair trade traffics make for good politics, but willy-nilly tariffs are bad policy.
When it comes to the current state of the market, Leat says everyone has the same worry in their mind, inflation.
Leat says the highs the market saw in January were not sustainable. He explains the daily ups and downs of the market tend to freak people out, especially when they go down. But Leat encourages investors to try to look at the overall market and understand the full market. Leat says it is still a good time to be in the market, longterm.
Adidas said it might have to write off the remaining 300 million euros ($320 million) worth of Yeezy shoes left unsold after it cut ties with rapper Ye, formerly known as Kanye West.
Ivanka Trump began testifying Wednesday in the civil fraud trial that is publicly probing the Trump family business, making an appearance she tried to prevent.
Walmart announced it's looking to create a calm morning shopping experience by turning TV walls to static non-moving images, silencing radios, and dimming store lights.
Biotech company Biogen lowered its full-year profit forecast, citing higher costs related to its purchase of drug maker Reata Pharmaceuticals as well as the launch of its Alzheimer's drug.
