Replying to @MHh:Good thesis. NZ tried for years to get a free trade deal with USA. In the end NZ got one with China and is on the way to one with India. Trading nations are always open for business and world trade will continue with or without the USA. It's just that there is a lot of money in the USA, $$$.//@MHh:I think panic selling has begun. It is always better to lock in profits. However, for me I would prefer to wait before I make any trade. I would prefer to buy the dip at a later time as I feel that the market still has more to go down. I might nibble a bit if the price is really tempting. I would definitely prefer to stick with ETFs that are less volatile instead of individual stocks. The recession trade will definitely happen if countries retaliate but I believe most leaders would hold it as a trade war wouldn’t benefit their countries. Most would engage in a dialogue with trump which is what he wants and when he reduces the tariffs, the market should lift again. The key question is we don’t know when this would happen and what the other countries would do. It is also a possibility that countries outside of the US can rearrange their trades and trade amongst themselves without the US. Afterall, the Chinese market is bigger than the US and they are resource rich too.