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There were further developments on the tariff front last week, and this had an impact on markets.
Monday resembled ‘Liberation Day 2.0’ last week. US President Donald Trump pushed the 9th of July deadline for tariff pauses back to 1st August, while also adding a slew of new tariffs to go into effect on that date.
On Friday, the S&P 500 completed its comeback, notching a new all-time high. The index has grown approximately 27% in local terms from its lowest point in early April.