Three Stories Affecting Your Wealth This Week

It was a difficult week for investors, as the Standard & Poor's 500 stock index closed lower for the third straight week. The S&P 500 Index sank 1.3% on Friday. Closing at 2,752.06, the S&P 500 index was 6.5% from its all-time high on April 30th.

Friday's stock market drop came after President Donald J. Trump threatened late on Thursday that, unless the flow of South American migrants crossing into the U.S. through Mexico is reduced, the U.S. would impose a 5% tariff on imports from Mexico starting June 10th, which would raise the levy on goods coming from Mexico by 5% a month to 25%.

Meanwhile, the trade war with China showed no sign of being averted and the Chinese are making the dispute a point of national pride. The prospect of fighting a trade war on two fronts caused the market to slump on Friday.

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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