I won’t sugarcoat it - this has been a tough time for the markets.
After President Trump’s sweeping rollout of new tariffs, U.S. stocks had their worst single-day drop since the early pandemic on Thursday, April 3rd.1 The S&P 500 fell nearly 5%, the Nasdaq tumbled close to 6%, and the Dow dropped over 1,600 points.2 Concerns over a full-scale trade war sent global markets reeling and investor confidence took a sharp hit.
From major retailers to energy companies, few sectors were spared. At the same time, rising tariffs on auto imports and goods from countries like China, Vietnam, and the European Union are fueling fears of inflation, reduced consumer spending, and even the possibility of a recession.2
It’s no surprise if you’re feeling uneasy. You're definitely not alone.
Here’s what I want you to remember: times like these are why we build diversified portfolios and personalized plans. You are not invested directly in the S&P 500 or the Nasdaq. Instead, your portfolio is designed to span a range of asset classes, sectors, and geographies - and we intentionally include strategies and instruments beyond equities that are intended to help cushion against volatility.
While market indexes may grab headlines when they swing, your strategy is built with long-term goals in mind, not short-term reactions.
That said, this downturn is real - and it’s unsettling. So here’s what we can do:
- Focus on what we can control, like how we react, how we stay diversified, and how we manage risk.
- Avoid the urge to panic sell, which historically has been one of the costliest investor mistakes.
- Stick to your plan, which was designed with the realities of both good and bad times in mind.
- Remember that these tariff talks are still relatively new and we don't know how things will play out yet.
It’s also worth noting that even on a day like this, there are bright spots. Not every sector is falling, and some defensive areas like consumer staples have held up well. This reinforces why diversification matters - because we don’t try to predict the future, we prepare for it.
"...the time to buy is when ther's blood in the streets."
Baron Rothschild of the Rothchild banking family
If you’re feeling unsettled or just want to talk it through, I’m here. Use the link below to schedule a time to chat. Your peace of mind is as important as your portfolio.
Warm regards,
Daniel Ruben, MD, MPH, MBA
(818) 483-6611
Schedule a Call/Zoom
P.S. This commentary reflects general trends, not the specific results of your portfolio. Every investment strategy is personalized to your goals, risk tolerance, and time horizon. If your returns don’t match the market, that’s by design and often to your long-term advantage.
P.P.S. Need a reason to look up this week? April is delivering a celestial show, with shooting stars and a rare planetary gathering lighting up the night sky. It’s a great reminder that even in turbulent times, there’s beauty to be found above us.
Sources:
1. NBC News, 2025 [URL: https://www.nbcnews.com/business/markets/us-stocks-dow-nasdaq-sp-plummet-trump-tariffs-rcna199476]
2. Fox Business, 2025 [URL: https://www.foxbusiness.com/live-news/stocks-sink-after-trump-tariffs-live-updates]
Disclosure: This commentary is for informational purposes only and does not constitute investment advice. Past performance is not indicative of future results. Individual portfolio performance will vary based on investment strategy, asset allocation, and other factors. Always consult your financial advisor before making any investment decisions.
Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.
This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.
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