1. United States
2. S.D.
3. Letter

The recent escalation of tariffs and trade tensions has caused severe market turmoil, with the Dow Jones plunging over 1,000 points and the Nasdaq entering bear market territory. Investors are fleeing to the safety of bonds, driving yields down sharply. Recession fears are mounting, with economists like those at JPMorgan seeing a 60% chance of a global recession. This volatility and uncertainty jeopardizes the financial security and retirement savings of millions of Americans. An evidence-based approach considering economic data and expert analysis, rather than speculation and brinkmanship, is crucial when policies have such widespread ramifications. I urge you to prioritize stabilizing markets and averting an avoidable economic downturn that could devastate livelihoods and undermine prosperity.