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The Trump administration’s Election Day bump for the stock market is nearly history. The S&P 500 has erased most of its meteoric gains notched since Nov. 5.
Hopes for deregulation, tax cuts, and other fiscal stimulus from President Donald Trump have been replaced by fears that his tariffs on Canada, Mexico, and China will ignite a full-blown trade war. That outcome would most certainly hurt consumers and corporate profits—and revive the economic threat of inflation.
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