Weekly Market Commentary 03/02/2018

True to form, the financial markets entered the month of March like a lion, roaring disapproval of Trump’s announced tariffs on steel and aluminum imports. The controversial news could not come at a worse time for equity investors, whose nerves are still raw from the strafing they suffered in February. During that month, stock prices suffered their first setback since last March, reflecting mounting fears of inflation and a more aggressive Fed tightening. The new Fed Chair, Jerome Powell, didn’t help matters, conveying a somewhat more hawkish message than expected in the first leg of his semi annual testimony on monetary policy to Congress on February 27.