Today's Podcast: Why The Market Hates Protectionism

In yesterday's "Headlines of the Day" my closing line included:

....the market reaction to a U.S./China/EU trade war will be the definition of ugly.

Per this morning's headline -- "Trump Slaps Steel Tariffs on EU, Canada, Mexico as Tensions Rise" -- we can add Canada and Mexico to the list of combatants in a potential trade war.

While it would be pure hyperbole to characterize a 260 point hit to the Dow (so far) during a typically tough season for the market as "the definition of ugly", we can, at a minimum, consider it a warning shot across the bow of the trade-warship; signalling that things may indeed get ugly if this indeed means war!

Here's a little something to help you keep it all in perspective: