A.M. Update

S&P 500 futures are down -1.6%, while Nasdaq-100 and Russell 2000 are down  -1.8% and -2.25% respectively. Markets are responding to President Trump imposing tariffs on important trading partners (25% on Canada and Mexico and 10% on China) and warning Europe that levies are coming., stoking concerns about retaliatory tariffs and increased inflation.  President Trump…