How to plan money decisions when the economic rules change in a blink.

I'm David Brancaccio in Los Angeles.

After President Trump's abrupt U-turn on tariffs yesterday affecting most countries in the world but China,

stock prices soared.

The stock market posted its third biggest single-day jump since the Second World War. With the

NASDAQ up 12 percent, NASDAQ futures are back down about 2 percent this morning. Investors have

just been reminded that the economic landscape can be painted over in an instance, with President

Trump saying that he acted, quote, instinctively more than anything else. Russ Mold is investment director at the UK-based AJ Bell.

Having to try and manage your money according to policy which can change very quickly

or a social media post which can appear even quicker is very, very difficult.

So I think the secret is really, if you possibly can, not get dragged into the moment-to-moment day-to-day news.

If you've taken a little bit more risk than you feel comfortable with, maybe that's

what you need to be checking for, because in the end, investing is about patient accumulation

overnight. And if it's keeping you awake at night, then you probably have taken more risk

than you would than perhaps you've thought, and maybe that's what you should be checking

on. Crude oil using the New York price is under $61 a barrel, as we speak, down this morning,

that I think is in part a bet that some big economies around the world could be headed for an economic downturn amid all this uncertainty about, for instance, world trade.

You must see risks of a downturn, Mr. Malt.

I think the longer that we have this policy uncertainty, I think that's a very, very genuine

risk. And I must admit, I'm glad I'm talking about this rather than actually running a company.

You've got an awful lot of different things to think about. You don't know at the moment

from one day to the next, whether, you know, America or one of your other potentially biggest trading partners is putting tariffs on or not,

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