{"id":224363,"date":"2025-05-21T12:13:05","date_gmt":"2025-05-21T16:13:05","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=224363"},"modified":"2025-05-21T12:22:12","modified_gmt":"2025-05-21T16:22:12","slug":"tariffs-tension-and-tech-whiplash","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/podcasts\/ibkr-podcasts\/tariffs-tension-and-tech-whiplash\/","title":{"rendered":"Tariffs, Tension, and Tech Whiplash"},"content":{"rendered":"\n<p>Global markets are caught between tariff shocks, economic uncertainty, and a tech sector ready to rebound\u2014or rupture. Kevin Davitt of Nasdaq joins to break down the volatility, the signals, and what might trigger the next big move.<\/p>\n\n\n\n<iframe title=\"Tariffs, Tension, and Tech Whiplash\" allowtransparency=\"true\" height=\"150\" width=\"100%\" style=\"border: none; min-width: min(100%, 430px);height:150px;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?i=apici-18b56dd-pb&#038;from=pb6admin&#038;share=1&#038;download=1&#038;rtl=0&#038;fonts=Arial&#038;skin=1b1b1b&#038;font-color=ffffff&#038;logo_link=episode_page&#038;btn-skin=c73a3a\" loading=\"lazy\"><\/iframe>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-summary-ibkr-podcasts-ep-260\">Summary \u2013 IBKR Podcasts Ep. 260<\/h2>\n\n\n\n<p><em>The following is a summary of a live audio recording and may contain errors in spelling or grammar. Although IBKR has edited for clarity no material changes have been made<\/em>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson\"><strong>Andrew Wilkinson<\/strong><\/h3>\n\n\n\n<p>Welcome to this midweek look at markets. I&#8217;m pleased to hop back on this segment. Kevin Davitt, Head of Index Options at the Nasdaq. Welcome, Kevin.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-kevin-davitt\"><strong>Kevin Davitt<\/strong><\/h3>\n\n\n\n<p>Thank you very much for having me back, Andrew. Good to see you.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-0\"><strong>Andrew Wilkinson<\/strong><\/h3>\n\n\n\n<p>Likewise. And looks like you are in the Chicago offices today at the Nasdaq. Is that right?<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-kevin-davitt-0\"><strong>Kevin Davitt<\/strong><\/h3>\n\n\n\n<p>I am in the Chicago offices today.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-1\"><strong>Andrew Wilkinson<\/strong><\/h3>\n\n\n\n<p>Very good. Okay, for the sake of timing for the audience, we&#8217;re recording Wednesday, May the 21st, 2025. In terms of background, the Walmart CEO has warned about passing some tariffs onto customers in the shape of higher prices, while Moody&#8217;s has stripped the U.S. of its last AAA rating status. Let&#8217;s dive straight in.<\/p>\n\n\n\n<p>Kevin, are we stalling or are we staging for takeoff? The Qs fell by 27%\u2014I think February the 18th all-time high to April the seventh low. The rally through mid-May leaves the market within, I think, 4% of its peak. Is that a <em>fait accompli<\/em>? What are investors waiting for now?<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-kevin-davitt-1\"><strong>Kevin Davitt<\/strong><\/h3>\n\n\n\n<p>Ooh, <em>fait accompli<\/em>. What a great term. The swings that you highlighted have certainly been wild. I think there&#8217;s been a lot of coverage around, or data showing, how individual investors were actively buying the dip\u2014to use the term\u2014in April. Now, according to much of what I&#8217;ve seen, individuals were buying, while systematic and institutional investors were largely reducing their equity exposure.<\/p>\n\n\n\n<p>You mentioned at the outset Monday\u2019s activity following news over the weekend of Moody\u2019s downgrade of U.S. credit and their outlook. I think that example is arguably case in point. So what I mean there is, according to data from JPMorgan, there was something like $4 billion in retail buying Monday morning, which apparently broke some old record.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-2\"><strong>Andrew Wilkinson<\/strong><\/h3>\n\n\n\n<p>Oh wow.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-kevin-davitt-2\"><strong>Kevin Davitt<\/strong><\/h3>\n\n\n\n<p>As far as what investors are waiting for\u2014to answer the question\u2014I don\u2019t have a great answer. I think if you asked a broad swath, you&#8217;d get a lot of really interesting but disparate feedback. I think it&#8217;s also easy to kind of&#8230;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-3\"><strong>Andrew Wilkinson<\/strong><\/h3>\n\n\n\n<p>&#8230;for\u2014<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-kevin-davit-t\"><strong>Kevin Davit<\/strong>t<\/h3>\n\n\n\n<p>&#8230;Monday-morning quarterback a situation like this.<\/p>\n\n\n\n<p>Based on the stuff that I look at, the retail buying was largely concentrated in mega-cap tech. You referenced the move in the Qs. A lot of those names had lagged year to date, which is interesting. And in general, those buys have been rewarded\u2014in some cases, really significantly.<\/p>\n\n\n\n<p>The thing that I find interesting\u2014maybe bigger picture and hints at your question as far as what people might be waiting for\u2014has to do with expectations around employment and sentiment data. Generally, there is a gigantic disconnect between what we typically term \u201chard data\u201d\u2014the quantifiable stuff like retail sales or CPI\u2014and \u201csoft data,\u201d which is sentiment-driven and more kind of vibey.<\/p>\n\n\n\n<p>The recent data out of the University of Michigan shows really bad consumer confidence and some of the highest concern over future employment since 2009\u2014higher than 2020. So to the question, I think that some investors are waiting to see if they still have a job, which makes putting discretionary capital to work a more fraught sort of consideration.<\/p>\n\n\n\n<p>So long-term, if we don\u2019t see a meaningful pickup in layoffs, I think the hard data remains decent to good, and Americans are really fabulous at finding ways to spend money.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinso-n\"><strong>Andrew Wilkinso<\/strong>n<\/h3>\n\n\n\n<p>Kevin, we\u2019re hearing from Walmart, as I mentioned, and other retailers about the impact of tariffs on prices, and\u2014as you mentioned\u2014consumer sentiment and how it\u2019s likely to impact the corporate response. What are you hearing on, or what are you listening for, from tech executives on the technology side?<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-kevin-davitt-3\"><strong>Kevin Davitt<\/strong><\/h3>\n\n\n\n<p>Okay, so we have heard from Walmart and we\u2019ll be hearing a lot this week from retailers, given that they&#8217;re typically reporting earnings at the end of the season, so to speak. Generally speaking, they import much of what ends up on their shelves, and tariffs make those goods more expensive. Your audience knows that probably full well.<\/p>\n\n\n\n<p>Then the question becomes whether they end up eating some or all of those costs\u2014and it erodes margins\u2014or whether, historically what\u2019s been the case, is that they typically pass those higher costs on to consumers. That\u2019s been well covered.<\/p>\n\n\n\n<p>Now, you\u2019re asking about the tech side of the ledger, in part probably because I care about the Nasdaq-100, and the index has historically been viewed as a tech benchmark. Now, to be perfectly fair, the exposure to tech is significant\u2014and it\u2019s larger than that of the S&amp;P 500\u2014but not by some order of magnitude.<\/p>\n\n\n\n<p>I\u2019ll turn that around just a little bit. A company like Costco is a top 10 constituent in the Nasdaq-100. Amazon is top five. Pepsi is top 20. You hopefully get my point here\u2014that it is a broader index than just tech.<\/p>\n\n\n\n<p>Okay, you asked what I\u2019m listening for from tech executives\u2014and just to be abundantly clear, this is a Kevin response, not from Nasdaq\u2014but I found it interesting that last week, Tim Cook\u2014who your audience probably knows runs Apple\u2014said that tariffs could cost them something in the neighborhood of $900 million this quarter. He has also made overtures about how they&#8217;re shifting some production from China to India.<\/p>\n\n\n\n<p>Nvidia is another example, and in my opinion, probably a decent representation of what I expect to see from big tech firms. They have significant influence in Washington, D.C. and elsewhere, and there have been a bunch of carve-outs for things like GPUs and other critically important technologies.<\/p>\n\n\n\n<p>In short, what I expect to hear is that tariffs are a tax. But what I expect to see behind the scenes are efforts to lobby and changes to allow them to continue operating at scale. And that again is just my take based on what I follow.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-4\"><strong>Andrew Wilkinson<\/strong><\/h3>\n\n\n\n<p>Tariffs, on the one hand, may have brought down the pace of economic growth at the margin because they&#8217;ve been very disruptive. But on the technology side, what do you think is going to cause the next wave of a market rally? What do we have to wait for?<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-kevin-davitt-4\"><strong>Kevin Davitt<\/strong><\/h3>\n\n\n\n<p>So, a question like that\u2014I&#8217;m of two minds. Again, just my opinion. Big picture\u2014really big, broad picture\u2014I think that technology will continue to lead markets both higher and lower. I think it&#8217;s arguably the story of this century. And I think, if you remember some historical webinars we&#8217;ve done, I do think through the lens of broader history and think about the Agricultural Revolution, Industrial Revolution\u2014and we&#8217;re arguably in potentially the early stages of an Information Revolution.<\/p>\n\n\n\n<p>Tech has been leading\u2014and in some cases lagging\u2014for two decades, and I don&#8217;t think that&#8217;s likely to be interrupted soon. It pushes productivity, it increases margins. It&#8217;s worked. But there are cycles.<\/p>\n\n\n\n<p>In the near term, what I think could catalyze another leg of a rally is systematic flows and institutions piling back in or chasing. So in your first question, we talked about how retail had been actively buying. When I talk about systematic, I&#8217;m thinking about things like vol-control funds.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-5\"><strong>Andrew Wilkinson<\/strong><\/h3>\n\n\n\n<p>Yeah.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-kevin-davitt-5\"><strong>Kevin Davitt<\/strong><\/h3>\n\n\n\n<p>Generally speaking, they scale up equity exposure when volatility comes in\u2014and vice versa. So they were scaling down into that big swell of volatility.<\/p>\n\n\n\n<p>Now, if you have a one-month lookback on vol, that should continue to fall, whether you&#8217;re looking at the S&amp;Ps or the Nasdaq-100, given the period with the most significant daily moves was right around 30 days ago. So those will fall out of the calculation, and we would expect realized vol measures to decline\u2014and that generally pushes equity allocations higher.<\/p>\n\n\n\n<p>To date, NDX one-month vol has fallen from about 50 to 40, and absent some real big swings, I would expect it to continue to fall. The other potential catalyst is the fact that, as I mentioned, individuals were buying, institutions were not\u2014and if they feel compelled to get in, that they could be missing that next leg. Those sorts of big-dollar allocations can matter.<\/p>\n\n\n\n<p>When I think about my personal account and the trading that I do, I am more active in there, not thinking quite as big picture. And I would happen to be skewed a bit more for downside at the moment. But that&#8217;s a different look\u2014tactical as opposed to strategic.<\/p>\n\n\n\n<p>And that, again, is just my opinion. But that&#8217;s the thing that makes markets wonderful.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-6\"><strong>Andrew Wilkinson<\/strong><\/h3>\n\n\n\n<p>Kevin, we&#8217;ll let you get back to it. Thank you so much for joining me today.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-kevin-davitt-6\"><strong>Kevin Davitt<\/strong><\/h3>\n\n\n\n<p>Thanks for having me, Andrew.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-andrew-wilkinson-7\"><strong>Andrew Wilkinson<\/strong><\/h3>\n\n\n\n<p>All right, and to the audience, thanks for listening\u2014and remember, subscribe wherever you get your podcast from.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global markets are caught between tariff shocks, economic uncertainty, and a tech sector ready to rebound\u2014or rupture. Kevin Davitt of Nasdaq joins to break down the volatility, the signals, and what might trigger the next big move.<\/p>\n","protected":false},"author":111,"featured_media":224380,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[10842,13857],"tags":[9362,19508,19505,671,18327,17677,2099,850,19320,10995,19502,7895,19504,19506,19503,19507,4919,7077,15074],"contributors-categories":[13576,13756],"class_list":{"0":"post-224363","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ibkr-podcasts","8":"category-podcasts","9":"tag-economic-outlook","10":"tag-economic-sentiment","11":"tag-financial-news-podcast","12":"tag-global-markets","13":"tag-inflation-trends","14":"tag-institutional-investing","15":"tag-interactive-brokers","16":"tag-interest-rates","17":"tag-kevin-davitt","18":"tag-market-volatility","19":"tag-nasdaq-insights","20":"tag-retail-investors","21":"tag-stock-market-update","22":"tag-supply-chain-impact","23":"tag-tariffs-2025","24":"tag-tech-sector-analysis","25":"tag-tech-stocks","26":"tag-trade-policy","27":"tag-u-s-economy","28":"contributors-categories-interactive-brokers","29":"contributors-categories-nasdaq"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Tariffs, Tension, and Tech Whiplash | IBKR Podcasts<\/title>\n<meta name=\"description\" content=\"Global markets are caught between tariff shocks, economic uncertainty, and a tech sector ready to rebound\u2014or rupture. Kevin Davitt of Nasdaq joins to...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/224363\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tariffs, Tension, and Tech Whiplash | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"Global markets are caught between tariff shocks, economic uncertainty, and a tech sector ready to rebound\u2014or rupture. Kevin Davitt of Nasdaq joins to break down the volatility, the signals, and what might trigger the next big move.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/podcasts\/ibkr-podcasts\/tariffs-tension-and-tech-whiplash\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-21T16:13:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-21T16:22:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/05\/pod20250521davit.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Andrew Wilkinson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Andrew Wilkinson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/podcasts\\\/ibkr-podcasts\\\/tariffs-tension-and-tech-whiplash\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/podcasts\\\/ibkr-podcasts\\\/tariffs-tension-and-tech-whiplash\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Andrew Wilkinson\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/d9f9f59fce942ef53aba42e7ff844803\"\n\t            },\n\t            \"headline\": \"Tariffs, Tension, and Tech Whiplash\",\n\t            \"datePublished\": \"2025-05-21T16:13:05+00:00\",\n\t            \"dateModified\": \"2025-05-21T16:22:12+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/podcasts\\\/ibkr-podcasts\\\/tariffs-tension-and-tech-whiplash\\\/\"\n\t            },\n\t            \"wordCount\": 1585,\n\t            \"commentCount\": 0,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/podcasts\\\/ibkr-podcasts\\\/tariffs-tension-and-tech-whiplash\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/05\\\/pod20250521davit.jpg\",\n\t            \"keywords\": [\n\t                \"economic outlook\",\n\t                \"economic sentiment\",\n\t                \"financial news podcast\",\n\t                \"global markets\",\n\t                \"inflation trends\",\n\t                \"institutional investing\",\n\t                \"Interactive Brokers\",\n\t                \"interest rates\",\n\t                \"Kevin Davitt\",\n\t                \"market volatility\",\n\t                \"Nasdaq insights\",\n\t                \"retail investors\",\n\t                \"stock market update\",\n\t                \"supply chain impact\",\n\t                \"tariffs 2025\",\n\t                \"tech sector analysis\",\n\t                \"tech stocks\",\n\t                \"trade policy\",\n\t                \"U.S. economy\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"IBKR Podcasts\",\n\t                \"Podcasts\"\n\t            ],\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"CommentAction\",\n\t                    \"name\": \"Comment\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/podcasts\\\/ibkr-podcasts\\\/tariffs-tension-and-tech-whiplash\\\/#respond\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/podcasts\\\/ibkr-podcasts\\\/tariffs-tension-and-tech-whiplash\\\/\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/podcasts\\\/ibkr-podcasts\\\/tariffs-tension-and-tech-whiplash\\\/\",\n\t            \"name\": \"Tariffs, Tension, and Tech Whiplash | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/podcasts\\\/ibkr-podcasts\\\/tariffs-tension-and-tech-whiplash\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/podcasts\\\/ibkr-podcasts\\\/tariffs-tension-and-tech-whiplash\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/05\\\/pod20250521davit.jpg\",\n\t            \"datePublished\": \"2025-05-21T16:13:05+00:00\",\n\t            \"dateModified\": \"2025-05-21T16:22:12+00:00\",\n\t            \"description\": \"Global markets are caught between tariff shocks, economic uncertainty, and a tech sector ready to rebound\u2014or rupture. Kevin Davitt of Nasdaq joins to break down the volatility, the signals, and what might trigger the next big move.\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/podcasts\\\/ibkr-podcasts\\\/tariffs-tension-and-tech-whiplash\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/podcasts\\\/ibkr-podcasts\\\/tariffs-tension-and-tech-whiplash\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/05\\\/pod20250521davit.jpg\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/05\\\/pod20250521davit.jpg\",\n\t            \"width\": 1000,\n\t            \"height\": 563\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/d9f9f59fce942ef53aba42e7ff844803\",\n\t            \"name\": \"Andrew Wilkinson\",\n\t            \"description\": \"Andrew Wilkinson is director of IBKR\u2019s trading education team and has been with the company since 2007. Before joining Interactive Brokers, Andrew began his career trading cash, interest rate products and derivative products in London before coming to the United States where he took his masters degree in Finance. He continued his career as a financial writer and commentator for publishers in London and the US. Andrew presents webinars and podcasts with contacts across the financial industry and helps educate investors via IBKR\u2019s Traders\u2019 Academy within the IBKR Campus.\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/andrew-wilkinson\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Tariffs, Tension, and Tech Whiplash | IBKR Podcasts","description":"Global markets are caught between tariff shocks, economic uncertainty, and a tech sector ready to rebound\u2014or rupture. Kevin Davitt of Nasdaq joins to...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/224363\/","og_locale":"en_US","og_type":"article","og_title":"Tariffs, Tension, and Tech Whiplash | IBKR Campus US","og_description":"Global markets are caught between tariff shocks, economic uncertainty, and a tech sector ready to rebound\u2014or rupture. Kevin Davitt of Nasdaq joins to break down the volatility, the signals, and what might trigger the next big move.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/podcasts\/ibkr-podcasts\/tariffs-tension-and-tech-whiplash\/","og_site_name":"IBKR Campus US","article_published_time":"2025-05-21T16:13:05+00:00","article_modified_time":"2025-05-21T16:22:12+00:00","og_image":[{"width":1000,"height":563,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/05\/pod20250521davit.jpg","type":"image\/jpeg"}],"author":"Andrew Wilkinson","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Andrew Wilkinson","Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibkrcampus.com\/campus\/podcasts\/ibkr-podcasts\/tariffs-tension-and-tech-whiplash\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/podcasts\/ibkr-podcasts\/tariffs-tension-and-tech-whiplash\/"},"author":{"name":"Andrew Wilkinson","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/d9f9f59fce942ef53aba42e7ff844803"},"headline":"Tariffs, Tension, and Tech Whiplash","datePublished":"2025-05-21T16:13:05+00:00","dateModified":"2025-05-21T16:22:12+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/podcasts\/ibkr-podcasts\/tariffs-tension-and-tech-whiplash\/"},"wordCount":1585,"commentCount":0,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/podcasts\/ibkr-podcasts\/tariffs-tension-and-tech-whiplash\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/05\/pod20250521davit.jpg","keywords":["economic outlook","economic sentiment","financial news podcast","global markets","inflation trends","institutional investing","Interactive Brokers","interest rates","Kevin Davitt","market volatility","Nasdaq insights","retail investors","stock market update","supply chain impact","tariffs 2025","tech sector analysis","tech stocks","trade policy","U.S. economy"],"articleSection":["IBKR Podcasts","Podcasts"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ibkrcampus.com\/campus\/podcasts\/ibkr-podcasts\/tariffs-tension-and-tech-whiplash\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/podcasts\/ibkr-podcasts\/tariffs-tension-and-tech-whiplash\/","url":"https:\/\/ibkrcampus.com\/campus\/podcasts\/ibkr-podcasts\/tariffs-tension-and-tech-whiplash\/","name":"Tariffs, Tension, and Tech Whiplash | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/podcasts\/ibkr-podcasts\/tariffs-tension-and-tech-whiplash\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/podcasts\/ibkr-podcasts\/tariffs-tension-and-tech-whiplash\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/05\/pod20250521davit.jpg","datePublished":"2025-05-21T16:13:05+00:00","dateModified":"2025-05-21T16:22:12+00:00","description":"Global markets are caught between tariff shocks, economic uncertainty, and a tech sector ready to rebound\u2014or rupture. Kevin Davitt of Nasdaq joins to break down the volatility, the signals, and what might trigger the next big move.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/podcasts\/ibkr-podcasts\/tariffs-tension-and-tech-whiplash\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/podcasts\/ibkr-podcasts\/tariffs-tension-and-tech-whiplash\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/05\/pod20250521davit.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/05\/pod20250521davit.jpg","width":1000,"height":563},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/d9f9f59fce942ef53aba42e7ff844803","name":"Andrew Wilkinson","description":"Andrew Wilkinson is director of IBKR\u2019s trading education team and has been with the company since 2007. Before joining Interactive Brokers, Andrew began his career trading cash, interest rate products and derivative products in London before coming to the United States where he took his masters degree in Finance. He continued his career as a financial writer and commentator for publishers in London and the US. Andrew presents webinars and podcasts with contacts across the financial industry and helps educate investors via IBKR\u2019s Traders\u2019 Academy within the IBKR Campus.","url":"https:\/\/www.interactivebrokers.com\/campus\/author\/andrew-wilkinson\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/05\/pod20250521davit.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/224363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/111"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=224363"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/224363\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/224380"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=224363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=224363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=224363"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=224363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}