Market insights
Balancing the end to the US government shutdown with lower rate cut expectations
US stocks had a mixed week, with the S&P 500 and Dow Jones Industrial Average adding 0.1% and 0.3% respectively while the Nasdaq Composite fell 0.5%.
When protectionism backfired: The Smoot-Hawley Tariff Act of 1930
Infocus
4 min read
When protectionism backfired: The Smoot-Hawley Tariff Act of 1930
With the Trump administration implementing wide ranging tariffs on US trading partners, it is useful to revisit the Smoot-Hawley Tariff Act, which was passed in 1930 and which was followed by a collapse in US trade and economic activity.