TechFlow news — On March 31, according to Jinshi Data, Matt Weller, Global Head of Market Research at StoneX, emphasized in a recent report that the market's aversion to uncertainty is an age-old Wall Street maxim. The ambiguity surrounding tariff announcements has undoubtedly damaged risk appetite. Once clarity emerges, risk assets and the U.S. dollar may experience a temporary rebound. However, he warned that if Trump continues escalating tariffs after April 2, any rally in risk assets would be short-lived unless traders are convinced that these economically disruptive policies have definitively ended.
Jed Ellerbroek, Portfolio Manager at Argent Capital, observed that this tariff policy uncertainty is driving capital into low-volatility and value stocks. The underperformance of tech giants over recent weeks reflects the market’s defensive mindset. He believes that improved visibility on tariff policy is a necessary prerequisite to reversing this risk-averse sentiment.
