Instead of our usual quarterly recap, this newsletter will focus on the political and economic events that began on April 2nd when the White House administration announced sweeping tariffs on countries across the globe. On April 3rd, the S&P fell nearly 5%, the Nasdaq tumbled close to 6%, and the Dow dropped by over 1,600 points. Concerns over a full-scale trade war sent global markets reeling and investor confidence took a sharp hit.