Markets rose on Thursday.
The S&P 500 rose 0.5 percent, the STOXX Europe 600 rose 1.1 percent and the Nikkei 225 rose 0.5 percent.
Investors were somewhat relieved after President Donald Trump signed a proclamation to impose tariffs on imported steel and aluminum but exempted Canada and Mexico while allowing other countries to negotiate exclusions.
“We think the likelihood of a full trade war is low, and that any market dips are a buying opportunity,” said Abe Sheikh, co-chief investment officer of Cougar Global.
Still, JPMorgan Chase & Co. executive Daniel Pinto warned that equity markets could fall as much as 40 percent in the next two to three years.
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