Stocks Tumble on Trade Fears
Although some firms like Boeing could see a big impact from a trade war, we're not planning any large-scale changes to our fair value estimates.
Jeremy Glaser: Stocks were sharply lower on Thursday, with the S&P 500 down around 2.5%, and the Dow off by almost 3%. Investors seem concerned about the potential of a brewing trade war between the United States and China, and it shouldn't be a huge surprise that Boeing was actually one of the biggest decliners on the day. That's because our analyst, Chris Higgins, thinks that Boeing's one of the most exposed to this potential trade war.
Overall, our analysts aren't expecting any big for value estimate changes from the news that came out today that did drive stocks lower. They do think that there'll be some impact from tariffs, and there'll be winners and losers, but overall the market still looks mostly fairly valued.