
How do you know investors don't like tariffs?
Forget looking at the S&P 500. Instead, consider the 52-week highs and lows on three separate occasions: Nov. 6, 2024, the day after Trump was elected; Dec. 1, 2024, just days after Trump announced his plans for a 25% tariff on Canadian and Mexican goods entering the U.S., and March 4, 2025, the day the actual tariffs kicked in.