On April 28, Trump promised Americans that if they elected him president, he would bring “unprecedented prosperity.” By April 30, Trump will have completed his first 100 days in office. Despite last week’s rally, the S&P 500 has fallen about 8% since Trump’s inauguration, its worst 100-day performance since Ford succeeded Nixon as president in 1974. After two consecutive years of gains of more than 20%, Wall Street has made a 180-degree turn. Trump’s tariffs and trade war have caused wild volatility in the market. Coupled with the government’s aggressive eviction of undocumented workers and mass layoffs of federal employees, which unnerved investors, the S&P 500 saw its seventh-fastest correction since 1929. Mark Malek, chief investment officer at Siebert, said: "This is an extreme, textbook, systemic risk in its purest form. “This volatility is quite different from what we’ve experienced in the past, and it’s spreading like wildfire indiscriminately across all sectors and assets, fueled by random rhetoric and ever-changing policy moves.”
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