Will Auto Stocks Crash & Burn Due to Trump's Steel & Aluminum Tariff?
News of Trump's planned tariffs on steel and aluminum sent auto stocks sliding. Patrick Sanders, Assistant Managing Editor for Investing at U.S. News & World Report, was with us to give us his outlook for the sector.
Sanders said investors aren't overreacting because it isn't clear what will happen. Investors are being smart by being cautious, he added. Sanders is not surprised to see shares of automakers trading lower, because their costs will spike with the new tariffs.
Sanders breaks down winners and losers of the tariff. He stressed that Bank of America already downgraded U.S. Steel. Eventually the tariff will hurt steel stocks and it would be a mistake to assume they will go up, he said.
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Rebecca Walser, founder and CEO of Walser Wealth Management, discusses how geopolitical conditions, the bifurcated economy, and other volatility could weigh on markets.
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Chip Giller, co-founder, and Amy Seidenwurm, Chief of Programs and Strategy at Agog: The Immersive Media Institute, discuss how the organization uses the virtual world to make real change.
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