Have investors finally priced in trade chaos, or is volatility just beginning? Markets wrapped August walking a tightrope: lingering at all-time highs while digesting a dizzying swirl of tariff news, Fed politics, and safe-haven stampedes. On Friday, the Dow fell 0.2%, the S&P 500 dipped 0.64%, and the Nasdaq slid 1.15%—yet all three posted gains for the month.
Despite muted trading as courts ruled most Trump tariffs illegal (now heading to the Supreme Court), uncertainty is palpable. Tech stocks, once invincible, felt heat—Nvidia slid over 3% for its first down month since March, and Dell and Marvell Technology disappointed. Meanwhile, gold burst to a record high above $3,500/oz, reflecting both fear and hopes for impending Fed rate cuts.
