Opinion: "Tariff Day" boots hit the ground, risk assets may experience a brief rebound

In his latest report, Matt Weller, the global market research director at StoneX, emphasized that "the market hates uncertainty" is an old adage on Wall Street. The ambiguity of tariff statements has undoubtedly hit risk preferences hard. "Once the shoe drops, risk assets and the dollar may experience a brief rebound." However, he warned that if Trump continues to increase tariffs after April 2nd, "any rebound in risk assets will be fleeting unless traders are convinced these disruptive policies have completely ended". Meanwhile, Jed Ellerbroek, portfolio manager at Argent Capital observed that this uncertainty over tariff policy is driving funds into low-volatility stocks and value stocks. The weak performance of tech giants in recent weeks confirms a defensive market mentality. He believes that to reverse this aversion to risk,"improved visibility on tariff policy is a necessary prerequisite".