markets & economy  |  april 9, 2025

Webinar Replay: Navigating Through Global Market Turbulence

Our panel addresses market volatility and investor concerns in the face of recent tariff announcements.

31:50

Sébastien Page, CFA®

Head of Global Multi-Asset and Chief Investment Officer

Gil Fortgang

Associate Analyst

Tim Murray, CFA®

Capital Markets Strategist

Justin Thomson

Head of the Investment Institute and Chief Investment Officer

Blerina Uruçi

Chief U.S. Economist

 

Key Insights

  • Economic uncertainty and market volatility remain high after the Trump administration announced new tariffs on U.S. trading partners.

  • Many consumers and businesses have paused on big-ticket spending, stoking fears of recession.

  • As investors navigate market downturns and weigh the temptation of taking drastic action, it’s important to remember long-term financial goals.

One week after President Donald Trump announced new tariffs on all imports into the U.S., with higher tariffs on a range of countries, investors face increased economic uncertainty and market volatility.

T. Rowe Price’s Sébastien Page, head of Global Multi-Asset and CIO; Justin Thomson, head of the Investment Institute and CIO; Blerina Uruçi, chief U.S. economist; Gil Fortgang, associate analyst, U.S. Equity; and moderator Tim Murray, capital markets strategist, join for a discussion on how to interpret market conditions, the actions we’re taking, and where to find opportunity.

Hello everyone and thank you for joining us for “Navigating Through Global Market Turbulence”, a T. Rowe Price webcast, where we'll be discussing the events of the last week. My name is Tim Murray. I'm a capital market strategist and I'll be your host for today's discussion.

And joining me today, we have Sebastién Page, Chief Investment Officer and Head of Global Multi Asset.

We also have Justin Thomson, head of the Investment Institute and also Chief Investment Officer and important to note that before leading the Investment Institute, Justin was head of International Equity for T. Rowe Price. He's joining us from London. So he's certainly got a unique perspective on what's going on.

We also have Blerina Uruçi, who is our Chief US Economist. And finally, Gil Fortgang, an analyst covering Washington, DC, and regulatory research, which, certainly Gil’s kind of a subject matter expert at the at the heart of what's going on.

So couple of notes before we get started.

First of all, we solicited questions before the event. And you know the response was great, was actually somewhat overwhelming in that we got more questions than we're going to be able to cover here today. So what we're going to do is we're going to cover the most common questions and also those where we can provide the most insights.

But we do plan on separately responding to any of the questions that we don't cover today. Also, there is a Q&A box on this zoom. So if you have additional questions that come up during the webinar, you can go ahead and submit that, submit them using that box. Last note, normally we do these webinars from a very nice media studio that that we have in our Baltimore office, but it just so happens we switched offices In the past two weeks, and unfortunately, the new media studio is not ready yet, so we're doing this via zoom. So just please excuse the aesthetic just for this one event.

And with that, let's go ahead and let's jump into it. We got a lot to cover.

So first of all, I'm going to start with Gil. So Gil, the big question, I think on everyone's mind is what do we see as the ultimate goal of this tariff policy? Are they just a negotiating tactic, or is there really a broader goal here?

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202504-4399527

 

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