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With market uncertainty unlikely to dissipate in the short term, now is not a good time for investors to add to riskier positions, according to Kate Moore, chief investment officer at Citi Wealth. "Effectively, we don't want to be adding to risk right now. If you have a portfolio that is fully invested, we're going to sit tight and think about being a medium- and long-term investor.
But if you have cash that you were looking to deploy, the uncertainty factor — whether it's in bonds or in equities — is too great for us to have a really convicted call," Moore said Thursday on CNBC's " Squawk Box ." Her comments come after President Donald Trump signed a tariff plan that imposes steep levies on many countries. This includes a 34% duty on Chinese imports — on top of another 20% tariff that was already in place — and a 20% levy on goods from the European Union.
Going into Trump's announcement, many investors had been hoping that clarity on trade policy could provide a relief bounce following a recent sell-off. However, Wall Street was left disappointed. Futures tied to the Dow Jones Industrial Average were off by more than 1,000 points Thursday morning , as traders ran away from riskier assets.
U.S. Treasury prices soared, driving yields lower.
The benchmark 10-year Treasury note yield was down 10 basis points at around 4.1%. @DJ.
1 5D mountain Dow futures tumble "The uncertainty factor is just starting," Moore said. "I think we're going to see that uncertainty really play out, frankly, over today's trading session." Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange.
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