Tariffs are top of mind today, and honestly, probably tomorrow, and maybe seemingly sort of forever,

at least for now. So let's just take it one day at a time. From American Public Media, this is Marketplace. In New York, I'm Kristen Schwab in for Kyrisdal. It's Monday, March 31st. Thanks for joining me.

The economy is on tariff watch this week. Yes, I know that lately most weeks are tariff watch weeks,

but the Trump administration has given itself a Wednesday deadline to finalize its reciprocal tariff plan.

And reportedly, an across-the-board 20% global tariff is back on the table.

As we know, markets have reacted to these back-and-forth tariffs with quite a bit of volatility.

As of today, the last

trading day of the first quarter, the S&P and NASDAQ posted their worst quarters since 2022.

But the stock market isn't the only thing that's been trending down. So has the value of the

dollar, down more than 4 percent so far this year. Marketplace's Justin Ho reports.

A lot of investors went into the year with a pretty optimistic outlook for the U.S. economy,

says Juan Perez, Director of Trading at Monax, USA.

That there was going to be a lot of policies coming from the Trump administration and the pro-business,

the pro-growth.

But then the trade wars kicked off.

Perez says investors' optimism quickly faded.

The ultimate consensus is that trade wars will affect growth.

And right now, the narrative is very much not so positive for the United States.

Investors who are nervous about economic growth often react by moving their money out of

relatively risky assets, like stocks.

And that flow, if it's significant enough among enough investors, can actually alter the trajectory

of a currency.

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