David Fischer, CEO of Landmark Capital, joins The Steve Noble Show to discuss the current indexes and how tariffs are going to have a big play on the market. The markets are down, and David says this is mostly because of tariffs. On July 1st, Canada announced that they are implementing tariffs to match any put into place by the United States by 25%. A Stress Test is being put out to many large banks and corporations to see how they will stand against a financial calamity.
Tariffs implemented by Canada were only meant to match what the United States does.
To listen to the full episode, click here.
Show Notes –
– The EU is threatening a 300 billion dollar retaliation if the US moves ahead with the Auto tariffs.
– Morgan Stanley has said this is a vicious circle, and will only stop when stocks die.
– A 10% correction has happened because of the tariff implementations.
– The DOW broke through its 200 moving day average.
– A Stress Test is placed on a bank, corporation, or pension to see how financially sound they are, and to see if they will survive.
– One of the largest banks in the world flunked, which is the Deutsche Bank.