Fortune· 2h ago· 1 min read
When Donald Trump was elected to a second term as president, amateur and professional traders alike rushed to identify which stocks would benefit from his aggressive economic policies.
While that strategy got off to a promising start, the so-called Trump Trade is now in tatters. Ned Davis Research’s Trump Trade Index — which consists of a dozen exchange-traded funds expected to benefit from White House policies on homebuilding, defense spending and the re-shoring of manufacturing — has slumped about 16% since May after clobbering the S&P 500 Index at the beginning of the year. Several of the ETFs in the gauge are now trading lower for the year.
The breakdown in the Trump Trade is mostly a result of the US conflict with Iran, which has pushed up energy prices, inflation expectations, interest rates and the value of the US dollar , Ned Davis Research wrote in a report this week.
“All…
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