Global equity markets fell more sharply this week following the revelation from the U.S. administration that its reciprocal tariffs will be much broader and larger than most investors expected.

Given the flurry of tariff and other policy developments, many investors seem to have their eyes glued on Washington—understandably so. But we think it’s also important to pay attention to what we believe matters most to the U.S. stock market.

U.S. trade policy is taking a more restrictive turn with potential implications for Canada’s economy and equity market. We think resisting knee-jerk reactions to headlines is the best way to navigate what could be repeated bouts of market volatility.