Hackett said the drop appears more dramatic because of a period of strength over the last two years, so it is not time to panic yet.
COLUMBUS, Ohio — On Tuesday, the Dow Jones tumbled for the second day in a row.
It comes amid the start of a trade war, as President Trump imposes tariffs on Canada, Mexico and China. All three countries announced plans to retaliate.
The situation is creating exactly the kind of uncertainty that causes the stock market to react, according to Mark Hackett, chief investment strategist at Nationwide Investment Management Group.
“I am not surprised. Frankly, it is a bit of a perfect storm,” he said. “You have a combination of growth scare and inflation fears, and a lot of uncertainty around D.C. is making investors nervous, so you are seeing a tremendous decline in investor sentiment and consumer sentiment as well.”
Hackett said the drop appears …