By Matthew Kerkhoff
It’s been a painful and frustrating year for equities. After a massive 7% rally to start the year, major averages peaked at the end of January and began their volatile descent. Four months later, we’re finally starting to see signs of stabilization.
Numerous geopolitical events have played a role in the price action we’ve seen over the past few months, but it has been the prospect of global trade wars that has stolen the show. Markets hate uncertainty, and trade wars are the epitome of uncertainty.