“Uncertainty” is the new buzzword. The term has been used repeatedly during earnings calls throughout the past month as company executives described the current state of the operating environment. This uncertainty is driven by the Trump Administration’s fluctuating tariff policy.
Benjamin D. Connard

Benjamin D. Connard, CFA®, is a Principal, Director, and Portfolio Manager at Carnegie Investment Counsel, where he collaborates with clients to develop personalized portfolio management and investment strategies tailored to their financial goals. Ben also plays a key role in overseeing the firm’s equity and fixed-income strategies, providing leadership and direction for Carnegie’s overall investment approach.
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Topics: Market
Volatility vs Long-Term Trends
Volatility in the market has spiked during the last month, coinciding with the Trump Administration’s tariff rollout. The rollout has been accompanied by shifting levels in the tariff, uncertainty when and where they will be implemented, and an escalating trade war with China. Equities have reacted negatively leading to headlines indicating how far the indexes have fallen off the peak.
The resulting chart can be a little unsettling.
Topics: Investing