As of yesterday, the US market was officially in correction territory being down 10% from it’s recent high in mid-February. Year to date, the S&P 500 is down just under 5% including today. The Canadian stock market is down less than that, believe it or not and year to date, including today at about 2pm, it is down less than 1%.

 

As I have said many times, if you are invested in the stock market, you should expect at least one 10% market correction in any given year whether the market is up or down at year end. Last year was a case in point: it was a great year overall but it was punctuated in the second quarter with a correction of just under 10%. I have yet to speak to a client who remembers that actually happened, by the way. It is just part of investing in the stock market.

 

I will do everything I can to keep you informed and up to date on what is going on and how it is affecting your portfolio. If you did not have a chance to listen to the update from our Chief Economist, Frances Donald, I am attaching here for you. I have followed Frances’ work since she was at Manulife and was very pleased when she joined RBC recently. Due to such high demand for the webinar, there some technical difficulties in the first 20 minutes but the content is excellent. I would strongly encourage you to take some time to watch it as Frances does a very good job providing a framework for how to think about the economic and market implications of the tariff threats.

 

Navigating the Impact of U.S. Tariffs on Canada

 

 

I’m here if you need me – don’t hesitate to call or email me.