Risk Appetite Returns: What It Means for the Market

Equities continued their jitters yesterday on the US open, but there was some light at the end of the tunnel, with Lutnick hinting that some tariffs may be walked back—signalling hopes that Trump’s aggressive narrative is more of a negotiation tactic for a quicker resolution rather than an escalating tariff retaliation.

Markets continue to show uncertainty, with the VIX ticking higher and equities in defence mode. Headlines are once again dominated by Trump tariffs, as tariffs on China, Mexico, and Canada all went into effect at midnight in New York.

Welcome to March. Geopolitics dominates as European leaders assemble what Britain called a “coalition of the willing” to secure a peace deal for Ukraine, following an Oval Office clash between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy. Equity markets are green.