Story perspectives
2023: Volatile Markets Amid Trump’s Tax and Trade Turmoil
5/20/2025
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Story summary
- In 2023, American asset investors faced significant volatility.
- February saw stocks peak due to initial optimism surrounding President Trump's tax policies.
- However, worries about Trump's trade policy triggered a widespread sell-off, labeled the “sell America” trade.
- By April, this led to declines in bonds, the dollar, and stocks approaching bear market territory.
