The Steady Drip: Broadening Asset Volatility Intensifies Worries for Stocks (Connecting the Dots: Barclays Capital, The New York Stock Exchange, S&P 500, U.S. Treasury, Goldman Sachs, Johnson & Johnson, Netflix, China, (“It’s Rigged”) & Soro Funding, All Networking for Control)

Broadening Asset Volatility Intensifies Worries for Stocks (Connecting the Dots: Barclays Capital, The New York Stock Exchange, S&P 500, U.S. Treasury, Goldman Sachs, Johnson & Johnson, Netflix, China, (“It’s Rigged”) & Soro Funding, All Networking for Control)

Newsmax.com

Friday, 11 April 2025 03:17 PM EDT

Traders work on the floor of the New York Stock Exchange during morning trading on April 11, 2025. Stocks continued to slide amid tariff fears after U.S. President Donald Trump temporarily reduced country-specific duties to a universal rate of 10% except for China. China retaliated by raising its levies on U.S. products to 125% from 84%. (Michael M. Santiago/Getty Images)

https://www.newsmax.com/finance/streettalk/asset-volatility-stocks/2025/04/11/id/1206606/

Wild swings in global markets are poised to keep U.S. stock investors on edge in the coming week, as a weakening dollar and a selloff in Treasuries compound extreme equity volatility that erupted after President Donald Trump launched his sweeping tariffs.

The S&P 500 was set for solid gains on the week after Trump pulled back on the heftiest tariffs on many countries, relieving Wall Street's worst-case scenario. Still, the benchmark index still was down about 13% from its February 19 all-time closing high. Concerns about lasting economic damage remained as the U.S. and China ratcheted up their trade battle and questions lingered over levies elsewhere as Trump only paused many of the most severe tariffs.

Investors punished U.S. assets in the wake of Trump's tariffs, with the dollar plunging against other major currencies and benchmark U.S. Treasury yields, which move opposite to bond prices, surging.

The stock market is "very unsettled" as investors weigh how to price in any economic fallout from the changing tariff backdrop, said Mark Luschini, chief investment strategist at Janney Montgomery Scott.

The market is "kind of trapped by the level of uncertainty that lurks out there," Luschini said. "And therefore investors are largely unwilling to make big bets in one direction or another."

A volatile week in stocks was highlighted by Wednesday's 9.5% jump for the S&P 500, the index's biggest one-day rise since October 2008 during the heart of the financial crisis.

The Cboe Volatility index, an options-based measure of investor anxiety, stood at around 40, more than twice its historic median level.

Stock investors were warily watching moves across asset classes, in particular the dollar and Treasuries. An index that measures the dollar against a basket of currencies on Friday fell below 100 for the first time in nearly two years, while the yield on the benchmark 10-year Treasury was on pace for its biggest weekly jump in decades.

In many prior risk-off events, the dollar and Treasuries have acted as safe havens, but that has not been the case over the last week as stocks have tumbled, said Walter Todd, chief investment officer at Greenwood Capital in South Carolina.

“We are the reserve currency and the risk free asset of the world, and our markets are not acting as such," Todd said.

The yield on the 10-year Treasury on Friday topped 4.5%, which investors have cited as a level that could cause turbulence for stocks. Higher yields translate into higher borrowing costs for consumers and businesses, while potentially making bonds more competitive investments against stocks.

"Until Treasuries stabilize and start to behave normally, risk assets will struggle," Barclays analysts said in a note on Friday.

Quarterly U.S. corporate results in the coming week provide another test for investors. Goldman Sachs, Johnson & Johnson and Netflix are among the major U.S. companies set to report.

Bryant VanCronkhite, senior portfolio manager at Allspring Global Investments, said he would be looking for companies which can show confidence in their businesses despite the shifting tariff landscape.

"I'm looking for companies that have the competence and the desire to invest through this cycle," VanCronkhite said.

Data on U.S. retail sales for March will shed light on the health of the consumer, but investors may discount the report to some extent because it covers a period before Trump's April 2 tariff announcement. A survey on Friday showed U.S. consumer sentiment fell sharply in April and 12-month inflation expectations surged to the highest level since 1981 amid unease over escalating trade tensions.

Markets will remain highly sensitive to developments on the trade front. Investors will hope for evidence of progress between the U.S. and countries for which Trump has paused hefty levies for 90 days.

The faceoff between the U.S. and China -- the world's two largest economies -- will also consume attention. Beijing increased its tariffs on U.S. imports to 125% on Friday after Trump's move to hike duties on Chinese goods.

"China negotiations remain key for markets," Citi strategists said in a note.

Connecting the Dots:

Patrick J. Durkin is a managing director at Barclays Capital and a director at the Atlantic Council of the United States (think tank).

James R. Schlesinger is a senior adviser for Barclays Capital and a director at the Atlantic Council of the United States (think tank).

Timothy D. Adams is a director at the Atlantic Council of the United States (think tank) and was an undersecretary for the U.S. Department of the Treasury.

David D. Aufhauser is a director at the Atlantic Council of the United States (think tank) and was a general counsel for the U.S. Department of the Treasury.

James A. Baker III is an honorary director at the Atlantic Council of the United States (think tank) and was a secretary for the U.S. Department of the Treasury.

Kenneth W. Dam is a lifetime director for the Atlantic Council of the United States (think tank) and was a deputy secretary for the U.S. Department of the Treasury.

Stuart E. Eizenstat is a director at the Atlantic Council of the United States (think tank) and was a deputy secretary for the U.S. Department of the Treasury.

Robert M. Kimmitt is a director at the Atlantic Council of the United States (think tank) and was a deputy secretary for the U.S. Department of the Treasury.

George P. Shultz is an honorary director at the Atlantic Council of the United States (think tank) and was a secretary for the U.S. Department of the Treasury.

Herbert M. Allison Jr. was a director at the Atlantic Council of the United States (think tank) and an assistant secretary at the U.S. Department of the Treasury.

Teresa M. Ressel was an assistant secretary at the U.S. Department of the Treasury and a director at the Atlantic Council of the United States (think tank).

Open Society Foundations was a funder for the Atlantic Council of the United States (think tank).

George Soros is the founder & chairman for the Open Society Foundations, and the chairman for the Foundation to Promote Open Society.

Foundation to Promote Open Society was a funder for the International Rescue Committee.

Timothy F. Geithner is a director at the International Rescue Committee, was a secretary for the U.S. Department of the Treasury and an overseer at the International Rescue Committee.

Clifford S. Asness is a director at the International Rescue Committee and was a managing director at the Goldman Sachs Group Inc. (Bailout Company).

John C. Whitehead is an overseer at the International Rescue Committee and was a co-chairman & senior partner for the Goldman Sachs Group Inc. (Bailout Company).

Tracy R. Wolstencroft is a director at the International Rescue Committee and an advisory director for the Goldman Sachs Group Inc. (Bailout Company).

Judith A. Miscik was a director at the International Rescue Committee, is the senior advisor on geopolitical risk for Barclays Capital and the president & vice chairman for Kissinger Associates, Inc.

Henry A. Kissinger was the founder of Kissinger Associates, Inc., a director at the Atlantic Council of the United States (think tank), an overseer at the International Rescue Committee, a member of the Bohemian Club and a lifetime trustee at the Aspen Institute (think tank).

Belizean_Grove is the equivalent to the male-only social group, the Bohemian Club.

Foundation to Promote Open Society was a funder for the Aspen Institute (think tank).

George Soros was the chairman for the Foundation to Promote Open Society.

William H. Donaldson was a lifetime trustee at the Aspen Institute (think tank) and a chairman & CEO for the New York Stock Exchange.

John J. Phelan Jr. was a lifetime trustee at the Aspen Institute (think tank) and a chairman & CEO for the New York Stock Exchange.
Stephen Friedman is a trustee at the Aspen Institute (think tank) and was a director at the Goldman Sachs Group Inc. (Bailout Company).

L. Brooks Entwistle is a trustee at the Aspen Institute (think tank) and an advisory director for the Goldman Sachs Group Inc. (Bailout Company).

Robert J. Hurst is a trustee at the Aspen Institute (think tank) and was the vice chairman for the Goldman Sachs Group Inc. (Bailout Company).

Anne Welsh McNulty is a trustee at the Aspen Institute (think tank) and was a managing director at the Goldman Sachs Group Inc. (Bailout Company).

Robert K. Steel is the chairman for the Aspen Institute (think tank) and was the vice chairman for the Goldman Sachs Group Inc. (Bailout Company).

Roderick K. von Lipsey is a trustee at the Aspen Institute (think tank) and was the VP for the Goldman Sachs Group Inc. (Bailout Company).

Ted Sarandos is a fellow at the Aspen Institute (think tank) and the chief content officer for Netflix Inc.

Henrietta Holsman Fore is a trustee at the Aspen Institute (think tank) and a member of the Belizean Grove.

Connie K. Duckworth is a member of the Belizean Grove and was an advisory director for the Goldman Sachs Group Inc. (Bailout Company).

Ann F. Kaplan was a managing partner at the Goldman Sachs Group Inc. (Bailout Company) and is a member of the Belizean Grove.

Belizean_Grove is the equivalent to the male-only social group, the Bohemian Club.

Merit E. Janow is a member of the Belizean Grove and was a director at the NASDAQ Stock Market Inc.

Deborah L. Wince-Smith is a member of the Belizean Grove, was a director at the NASDAQ Stock Market Inc. and a director at Nasdaq Inc.

NASDAQ Stock Market Inc. is the former name of Nasdaq Inc.

Akin, Gump, Strauss, Hauer & Feld, LLP was the lobby firm for Nasdaq Inc. and Johnson & Johnson (COVID Vaccine Manufacturer).

Vernon E. Jordan Jr. is a senior counsel at Akin, Gump, Strauss, Hauer & Feld, LLP, married to Ann Dibble Jordan and an honorary trustee at the Brookings Institution (think tank).

Foundation to Promote Open Society was a funder for the Brookings Institution (think tank).

George Soros was the chairman for the Foundation to Promote Open Society.

John C. Whitehead is an honorary trustee at the Brookings Institution (think tank) and was a co-chairman & senior partner for the Goldman Sachs Group Inc. (Bailout Company).

Tracy R. Wolstencroft is a trustee at the Brookings Institution (think tank) and an advisory director for the Goldman Sachs Group Inc. (Bailout Company).

Richard L. Kauffman was a trustee at the Brookings Institution (think tank) and a group chairman for the Goldman Sachs Group Inc. (Bailout Company).

John L. Thornton is the chair for the Brookings Institution (think tank) and was the president & COO for the Goldman Sachs Group Inc. (Bailout Company).

Abby Joseph Cohen was a trustee at the Brookings Institution (think tank) and is a senior investment strategist for the Goldman Sachs Group Inc. (Bailout Company).

Geoffrey T. Boisi is an honorary trustee at the Brookings Institution (think tank) and was a general partner at the Goldman Sachs Group Inc. (Bailout Company).

Mario Draghi is an honorary trustee at the Brookings Institution (think tank) and was a managing director at the Goldman Sachs Group Inc. (Bailout Company).

Suzanne Nora Johnson is a trustee at the Brookings Institution (think tank) and was the vice chair for the Goldman Sachs Group Inc. (Bailout Company).

James A. Johnson is an honorary trustee at the Brookings Institution (think tank) and a director at the Goldman Sachs Group Inc. (Bailout Company).

Ann Dibble Jordan is an honorary trustee at the Brookings Institution (think tank),

married to Vernon E. Jordan Jr. and was a director at Johnson & Johnson (COVID Vaccine Manufacturer).

Mark B. McClellan is a director at Johnson & Johnson (COVID Vaccine Manufacturer) and was a senior fellow at the Brookings Institution (think tank).

Foundation to Promote Open Society was a funder for the Brookings Institution (think tank) and the Carnegie Endowment for International Peace (think tank).

George Soros was the chairman for the Foundation to Promote Open Society.
Gregory B. Craig is a trustee at the Carnegie Endowment for International Peace (think tank) and was a lawyer for the Goldman Sachs Group Inc. (Bailout Company).

William W. George is a director at the Goldman Sachs Group Inc. (Bailout Company) and a trustee at the Carnegie Endowment for International Peace (think tank).

Jon M. Huntsman Jr. is a trustee at the Carnegie Endowment for International Peace (think tank) and an ambassador to China for the Barack Obama administration.

J. Stapleton Roy is a trustee at the Carnegie Endowment for International Peace (think tank) and was a U.S. ambassador for China.

Richard A. Debs was a trustee at the Carnegie Endowment for International Peace (think tank) and a chairman for the New York Stock Exchange.

William H. Donaldson was a trustee at the Carnegie Endowment for International Peace (think tank), a chairman & CEO for the New York Stock Exchange and a lifetime trustee at the Aspen Institute (think tank).

John J. Phelan Jr. was a chairman & CEO for the New York Stock Exchange and a lifetime trustee at the Aspen Institute (think tank).

Foundation to Promote Open Society was a funder for the Aspen Institute (think tank).

George Soros was the chairman for the Foundation to Promote Open Society.

Ted Sarandos is a fellow at the Aspen Institute (think tank) and the chief content officer for Netflix Inc.

Henry A. Kissinger was a lifetime trustee at the Aspen Institute (think tank) and a member of the Bohemian Club.

Belizean_Grove is the equivalent to the male-only social group, the Bohemian Club.

Henrietta Holsman Fore is a trustee at the Aspen Institute (think tank) and a member of the Belizean Grove.

Connie K. Duckworth is a member of the Belizean Grove and was an advisory director for the Goldman Sachs Group Inc. (Bailout Company).

Ann F. Kaplan was a managing partner at the Goldman Sachs Group Inc. (Bailout Company) and is a member of the Belizean Grove.

Belizean_Grove is the equivalent to the male-only social group, the Bohemian Club.

Merit E. Janow is a member of the Belizean Grove and was a director at the NASDAQ Stock Market Inc.

Deborah L. Wince-Smith is a member of the Belizean Grove, was a director at the NASDAQ Stock Market Inc. and a director at Nasdaq Inc.

NASDAQ Stock Market Inc. is the former name of Nasdaq Inc.

Akin, Gump, Strauss, Hauer & Feld, LLP was the lobby firm for Nasdaq Inc. and Johnson & Johnson (COVID Vaccine Manufacturer).

Vernon E. Jordan Jr. is a senior counsel at Akin, Gump, Strauss, Hauer & Feld, LLP, married to Ann Dibble Jordan and an honorary trustee at the Brookings Institution (think tank).

Foundation to Promote Open Society was a funder for the Brookings Institution (think tank).

George Soros was the chairman for the Foundation to Promote Open Society.

A.W. Clausen was an honorary trustee at the Brookings Institution (think tank) and the president of the World Bank.

David Dollar is a senior fellow at the Brookings Institution (think tank) and was the country director for China and Mongolia for the World Bank.

Robert S. McNamara was an honorary trustee at the Brookings Institution (think tank) and the president of the World Bank.

James D. Wolfensohn was an honorary trustee at the Brookings Institution (think tank) and the president of the World Bank.

Ngozi Okonjo-Iweala was a visiting fellow at the Brookings Institution (think tank) and a managing director at the World Bank.

Hilda Ochoa-Brillembourg was the division CIO for the World Bank and is a director at the McGraw Hill Financial Inc.

Douglas L. Peterson is the president & CEO for McGraw Hill Financial Inc. and was the president of Standard & Poor's.

Standard & Poor's is a subsidiary of McGraw Hill Financial Inc.

Lois Dickson Fitt was a director at McGraw Hill Financial Inc., a guest scholar at the Brookings Institution (think tank) and Susan E. Rice’s mother.

Susan E. Rice is Lois Dickson Fitt & Emmett J. Rice’s daughter, was a senior fellow at the Brookings Institution (think tank) and the former U.S. ambassador to UN for the Barack Obama administration,

Emmett J. Rice was married to Lois Dickson Fitt, a member of the Federal Reserve Board, a U.S. alternative director for reconstruction & development for the World Bank and Susan E. Rice’s father.

Hilda Ochoa-Brillembourg was the division CIO for the World Bank and is a director at the McGraw Hill Financial Inc.

Douglas L. Peterson is the president & CEO for McGraw Hill Financial Inc. and was the president of Standard & Poor's.

Standard & Poor's is a subsidiary of McGraw Hill Financial Inc.

Lois Dickson Fitt was a director at McGraw Hill Financial Inc, a guest scholar at the Brookings Institution (think tank), married to Emmett J. Rice is Susan E. Rice’s mother and is a life trustee at the Urban Institute (think tank).

Foundation to Promote Open Society was a funder for the Brookings Institution (think tank), the Urban Institute (think tank) and the Carnegie Endowment for International Peace (think tank).

George Soros was the chairman for the Foundation to Promote Open Society.

Warren E. Buffett is a life trustee at the Urban Institute (think tank) and an adviser for the Nuclear Threat Initiative (think tank).

Carnegie Endowment for International Peace (think tank) was a funder for the Nuclear Threat Initiative (think tank).
Gregory B. Craig is a trustee at the Carnegie Endowment for International Peace (think tank) and was a lawyer for the Goldman Sachs Group Inc. (Bailout Company).