Opinion: It's About Valuation Depression, and Too Early to Call the Correction Over

Stocks caught a breather as inflation data came in lower than expected and the market digested Trump's new round of tariffs. Some investors rushed to buy the dip, believing the turmoil is about to end. However, we think it is too early to make that call, given Trump's policy priorities and the market's modest valuation. Here's what could happen next with Trump's economic agenda and why this correction is ultimately driven by valuation depression from both a technical and fundamental perspective—suggesting further downside risks.