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Feature Article

Tariffs and Trade Barriers: Where Utilities Stand

By Roger S. Conrad on Apr. 7, 2025

Call it “Liberation Day” or the “Greatest Economic Own Goal in History.” The Trump Administration’s tariffs on substantially everything Americans buy will have an impact.

That realization has now sunk in for the stock market. Down roughly -18 percent from its late February peak, the S&P 500 is now firmly in correction territory. That’s defined as a drop of at least -10 percent from the most recent high.

Utility stocks have so far been an exception. Even after a rough Friday, the Utilities Select SPDR Fund (XLU) is still down less than a percentage point year-to-date. And dividend stocks have been relative outperformers as well, with the iShares Select Dividend ETF (DVY) lower by -6 percent year to date.

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Roger S. Conrad needs no introduction to individual and professional investors, many of whom have profited from his decades of experience uncovering the best dividend-paying stocks for accumulating sustainable wealth. Roger b

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