Volatility loves company — get ready for further big swings in the market

Volatility is back.

Yesterday’s dramatic 4.8% tariff-charged sell-off was the S&P 500’s biggest daily drop since June 11, 2020 — back when when the world was grappling with the novel coronavirus. Today, global markets have picked up right where they left off, dropping around the world after China announced 34% retaliatory tariffs on US goods.

Leading yesterday’s decline were the tech giants, with Apple mirroring the wider market by notching its worst day since Covid as the iPhone maker shed more than $310 billion in market cap.

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