Stocks in Europe and Japan are moving ahead U.S. shares this year. Here’s what you can do now—without panicking.

His warning comes at a time when trade tensions, fueled by former US President Donald Trump’s tariff policies, are increasing, and the US stock market is struggling.

Second, the U.S. stock market recovered remarkably quickly from the tariffs imposed during the first Trump administration. Specifically, while the S&P 500 declined 19.8% over a three-month period between September and December 2018, the index had already recouped its losses and reached a new high by May 2019.