The beginning of President Trump’s term has been marked by significant challenges in the financial markets, with the S&P 500 experiencing its worst 100-day start to a presidency since 1974. This sharp downturn stands out, especially given the strong economic conditions inherited from the previous administration.

The trouble began with the introduction of sweeping tariffs in early April, sparking a period of intense market volatility. The sudden imposition of double-digit tariffs across multiple countries prompted steep declines in stocks and unsettled investors worldwide. This shift disrupted the traditional expectation that the U.S. remains a safe haven during financial uncertainty, as both the dollar and U.S. government bonds also weakened. Despite initial optimism tied to potential trade negotiations and other business-friendly policies, the market remains cautious amid persistent uncertainty about future government actions and their economic impact.

This period highlights the fragile state of investor confidence and the broader global financial system, emphasizing how policy decisions can rapidly influence market stability and economic outlook.