{"id":243005,"date":"2026-05-18T12:44:44","date_gmt":"2026-05-18T16:44:44","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=243005"},"modified":"2026-05-19T05:54:37","modified_gmt":"2026-05-19T09:54:37","slug":"stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/ibkr-economic-landscape\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\/","title":{"rendered":"Stocks Slip Further as Wall Street Tests Fed Chair Warsh\u2019s Tolerance for Volatility: May 18, 2026"},"content":{"rendered":"\n
Ongoing tensions between the US and Iran have investors reexamining their risk exposures as they start to increasingly view the glass as half-empty. The continued grapple along the Strait of Hormuz has led to sustained climbs in oil prices and interest rates as global inflation rates are jumping well above central bank targets and cost forces are broadening to the overall economy in a way that could materially alter price pressure expectations. The hawkish developments occur just as Kevin Warsh gears up in his first week at the helm of the Fed, with stocks extending their fall from Friday. Speculative enthusiasms are certainly cooling off as a result, with the Nasdaq, tech, semiconductors and cryptocurrencies suffering the heaviest losses. Still, participants are doing some shopping, as 6 of the 11 major sectors are advancing, with communications services, energy and consumer staples sporting the strongest gains of the session. The economic calendar featured an improvement and surprise beat in homebuilder sentiment, which is generating buy orders for shares of real estate names and residential construction firms. Meanwhile, the overnight surge in yields has been pared back this morning, with Treasurys and the greenback near their respective flatline, and that\u2019s helping to temper the volatility lift in equities. Elsewhere, commodities and prediction markets are catching bids.<\/p>\n\n\n\n
Homebuilder Sentiment Improves but Is Still Negative<\/strong><\/h3>\n\n\n\n
May homebuilder sentiment recovered from a seven-month low as less dire conditions drove a beat for the indicator. The NAHB\/Well Fargo headline result of 37 exceeded the median estimate of 35 and April\u2019s 34, as single-family sales momentum in the present, the outlook for closings in the next six months and the traffic of prospective buyers all improved from 37, 42 and 22 to 40, 45 and 25. Additionally, all four regions experienced lifts, with the Midwest, Northeast, South and West increasing from 39, 39, 34 and 26 to 45, 44, 36 and 27. The numbers across segments and geographies are well below the 50 level that would indicate positivity; however, the improvement is welcome for a sector that continues to suffer from recession as elevated mortgages rates, lofty valuations and subdued affordability have weighed on the industry since 2022.<\/p>\n\n\n\n<\/figure>\n\n\n\n
Almost Three Months of War Are Showing Their Impact<\/strong><\/h3>\n\n\n\n
With the US-Iran war closing in on three months of duration next week, the adverse impacts of the conflict are becoming increasingly difficult to manage economically. Against that backdrop, Wall Street is adjusting its positioning in light of the macro headwinds, as resurging inflation and soaring bond yields alongside prospects for profit margin compression and softening consumer spending may cause damage to the buoyant outlook for corporate earnings. In consideration of the challenges, investors have gravitated to the theme of artificial intelligence by piling into tech stocks and semiconductor names since the surge in capital expenditures isn\u2019t too affected by the cyclical obstacles of the moment. But the losses of the last two days illustrate how rising credit costs can sink risk premiums and weigh on speculative energies in markets. It\u2019s precisely the speed of the jump rates that has caught equity bulls off guard, as the forward-looking implications of tighter monetary policy and unsustainable fiscal budgets deplete animal spirits.<\/p>\n\n\n\n
International Roundup<\/strong><\/h2>\n\n\n\n
China Warns of Economic Instability as Econ Data Disappoints<\/strong><\/h3>\n\n\n\n
China\u2019s latest batch of economic data for April points to struggling consumers and slowing industrial activity, and the country\u2019s chief economist is warning that the Middle East crisis has increased the difficulty of the economic recovery. The comments and sluggish data have surfaced as observers assess the impact of the US-Iran war and the Israel-Lebanon conflict on China. On a positive note, the April unemployment rate was an outlier, posting a 0.2 percentage point decline from March\u2019s 5.4% level and falling below the economist consensus estimate of 5.3%.<\/p>\n\n\n\n
Chinese Consumers Cut Spending as Home Values Fall<\/strong><\/h3>\n\n\n\n
April retail sales grew only 0.2% year over year (y\/y), considerably weaker than the 1.7% expansion in March and substantially below the 2% economist consensus estimate. It was the slowest growth rate since late 2022. The April weakness was led by automobile sales, which sank 21.6% y\/y. House prices, furthermore, continued their multi-year decline, descending by 3.5% y\/y following March\u2019s 3.4% drop. With the exception of two instances when prices were either flat or climbed 0.1%, homes have lost value every month since April 2022.<\/p>\n\n\n\n
Industrial Production and Fixed Asset Investment Also Weaken<\/strong><\/h3>\n\n\n\n
China\u2019s Industrial production growth slowed from 6.1% y\/y in March to 5.6% last month and missed the economist consensus estimate of 6%. Fixed asset investment was also disappointing, declining 1.6% y\/y in April. Economists anticipated that March\u2019s 1.7% growth rate would repeat during the month.<\/p>\n\n\n\n
Strong demand for artificial intelligence products pushed Singapore\u2019s trade surplus up from SGD 11.12 billion in March to SGD 13 billion last month, according to Enterprise Singapore. The country\u2019s non-oil shipments to foreign lands soared 11% month over month (m\/m) and 24.5% y\/y after climbing 3% and 15.3% in March. During the month, demand from foreign markets for disk media products, integrated circuits and personal computers climbed by 148%, 82.7% and 35.7%. Regarding countries, exports to the US, after falling 2.8% y\/y in March, jumped 59.6% with electronics up 224%. The value of goods sent to South Korea and Hong Kong, furthermore, advanced by 71.2% and 63.2%. China, meanwhile, increased its purchases of Singaporean items by 37.8%. <\/p>\n","protected":false},"excerpt":{"rendered":"
Ongoing tensions between the US and Iran have investors reexamining their risk exposures as they start to increasingly view the glass as half-empty.<\/p>\n","protected":false},"author":903,"featured_media":241349,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[4,12711,18,6,8,9,26,3],"tags":[446,21554],"contributors-categories":[13760],"class_list":{"0":"post-243005","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-asia","8":"category-ibkr-economic-landscape","9":"category-macro","10":"category-north-america","11":"category-region","12":"category-securities","13":"category-text-articles","14":"category-traders-insight","15":"tag-federal-reserve","16":"tag-us-iran-war","17":"contributors-categories-ibkr-macroeconomics"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\n
Stocks Slip Further as Wall Street Tests Fed Chair Warsh\u2019s Tolerance for Volatility: May 18, 2026<\/title>\n<meta name=\"description\" content=\"Ongoing tensions between the US and Iran have investors reexamining their risk exposures as they start to increasingly view the glass as half-empty.\" \/>\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\/243005\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stocks Slip Further as Wall Street Tests Fed Chair Warsh\u2019s Tolerance for Volatility: May 18, 2026 | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"Ongoing tensions between the US and Iran have investors reexamining their risk exposures as they start to increasingly view the glass as half-empty.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/ibkr-economic-landscape\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-18T16:44:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-19T09:54:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/04\/Iran-Toll-Booth-e1779128837746.png\" \/>\n\t<meta property=\"og:image:width\" content=\"614\" \/>\n\t<meta property=\"og:image:height\" content=\"346\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Jose Torres\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jose Torres\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 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\\\/traders-insight\\\/ibkr-economic-landscape\\\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\\\/#article\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/ibkr-economic-landscape\\\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\\\/\"\n\t },\n\t \"author\": {\n\t \"name\": \"Jose Torres\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/92c2be3b6162d92fb996417221509b6e\"\n\t },\n\t \"headline\": \"Stocks Slip Further as Wall Street Tests Fed Chair Warsh\u2019s Tolerance for Volatility: May 18, 2026\",\n\t \"datePublished\": \"2026-05-18T16:44:44+00:00\",\n\t \"dateModified\": \"2026-05-19T09:54:37+00:00\",\n\t \"mainEntityOfPage\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/ibkr-economic-landscape\\\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\\\/\"\n\t },\n\t \"wordCount\": 880,\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\\\/traders-insight\\\/ibkr-economic-landscape\\\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2026\\\/04\\\/Iran-Toll-Booth-e1779128837746.png\",\n\t \"keywords\": [\n\t \"Federal Reserve\",\n\t \"US Iran war\"\n\t ],\n\t \"articleSection\": [\n\t \"Asia Pacific\",\n\t \"IBKR Economic Landscape\",\n\t \"Macro\",\n\t \"North America\",\n\t \"Region\",\n\t \"Securities\",\n\t \"Text Articles\",\n\t \"Traders' Insight\"\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\\\/traders-insight\\\/ibkr-economic-landscape\\\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\\\/#respond\"\n\t ]\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"WebPage\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/ibkr-economic-landscape\\\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\\\/\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/ibkr-economic-landscape\\\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\\\/\",\n\t \"name\": \"Stocks Slip Further as Wall Street Tests Fed Chair Warsh\u2019s Tolerance for Volatility: May 18, 2026 | 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\\\/traders-insight\\\/ibkr-economic-landscape\\\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\\\/#primaryimage\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/ibkr-economic-landscape\\\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2026\\\/04\\\/Iran-Toll-Booth-e1779128837746.png\",\n\t \"datePublished\": \"2026-05-18T16:44:44+00:00\",\n\t \"dateModified\": \"2026-05-19T09:54:37+00:00\",\n\t \"description\": \"Ongoing tensions between the US and Iran have investors reexamining their risk exposures as they start to increasingly view the glass as half-empty.\",\n\t \"inLanguage\": \"en-US\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"ReadAction\",\n\t \"target\": [\n\t \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/ibkr-economic-landscape\\\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\\\/\"\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\\\/traders-insight\\\/ibkr-economic-landscape\\\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\\\/#primaryimage\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2026\\\/04\\\/Iran-Toll-Booth-e1779128837746.png\",\n\t \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2026\\\/04\\\/Iran-Toll-Booth-e1779128837746.png\",\n\t \"width\": 614,\n\t \"height\": 346\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\\\/92c2be3b6162d92fb996417221509b6e\",\n\t \"name\": \"Jose Torres\",\n\t \"description\": \"Jos\u00e9 Torres is Senior Economist at Interactive Brokers. In this capacity, he is responsible for economic analysis, economic commentary and educational content focused on the economy. Prior to joining Interactive Brokers, Jos\u00e9 spent 6 years working as an economist in the United States government within the Federal Deposit Insurance Corporation (FDIC) and the Bureau of Labor Statistics (BLS). During his time with the U.S. government, Jos\u00e9 frequently led presentations covering economic conditions and forecasts for elected officials, political appointees and senior management. He also built economic models, consulted with private sector executives, contributed to the modernization of economic processes and gained recognition for predicting the inflationary episode of the 2020s. Jos\u00e9 has also been a professor of economics at the City University of New York and holds a master\u2019s degree in financial economics from West Texas A&M University. His skillset includes the ability to communicate and analyze complex economic topics in English and in Spanish and throughout his career, he has been interviewed by media outlets including Bloomberg, CNBC, CNN, WSJ, AP, Yahoo Finance, Cheddar, Business Insider, Seeking Alpha, PBS, FOX, Economic Times, Univision, Telemundo and others.\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/jose-torres\\\/\"\n\t }\n\t ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Stocks Slip Further as Wall Street Tests Fed Chair Warsh\u2019s Tolerance for Volatility: May 18, 2026","description":"Ongoing tensions between the US and Iran have investors reexamining their risk exposures as they start to increasingly view the glass as half-empty.","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\/243005\/","og_locale":"en_US","og_type":"article","og_title":"Stocks Slip Further as Wall Street Tests Fed Chair Warsh\u2019s Tolerance for Volatility: May 18, 2026 | IBKR Campus US","og_description":"Ongoing tensions between the US and Iran have investors reexamining their risk exposures as they start to increasingly view the glass as half-empty.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/ibkr-economic-landscape\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\/","og_site_name":"IBKR Campus US","article_published_time":"2026-05-18T16:44:44+00:00","article_modified_time":"2026-05-19T09:54:37+00:00","og_image":[{"width":614,"height":346,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/04\/Iran-Toll-Booth-e1779128837746.png","type":"image\/png"}],"author":"Jose Torres","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Jose Torres","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/ibkr-economic-landscape\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/ibkr-economic-landscape\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\/"},"author":{"name":"Jose Torres","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/92c2be3b6162d92fb996417221509b6e"},"headline":"Stocks Slip Further as Wall Street Tests Fed Chair Warsh\u2019s Tolerance for Volatility: May 18, 2026","datePublished":"2026-05-18T16:44:44+00:00","dateModified":"2026-05-19T09:54:37+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/ibkr-economic-landscape\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\/"},"wordCount":880,"commentCount":0,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/ibkr-economic-landscape\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/04\/Iran-Toll-Booth-e1779128837746.png","keywords":["Federal Reserve","US Iran war"],"articleSection":["Asia Pacific","IBKR Economic Landscape","Macro","North America","Region","Securities","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/ibkr-economic-landscape\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/ibkr-economic-landscape\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\/","url":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/ibkr-economic-landscape\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\/","name":"Stocks Slip Further as Wall Street Tests Fed Chair Warsh\u2019s Tolerance for Volatility: May 18, 2026 | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/ibkr-economic-landscape\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/ibkr-economic-landscape\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/04\/Iran-Toll-Booth-e1779128837746.png","datePublished":"2026-05-18T16:44:44+00:00","dateModified":"2026-05-19T09:54:37+00:00","description":"Ongoing tensions between the US and Iran have investors reexamining their risk exposures as they start to increasingly view the glass as half-empty.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/ibkr-economic-landscape\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/ibkr-economic-landscape\/stocks-slip-further-as-wall-street-tests-fed-chair-warshs-tolerance-for-volatility\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/04\/Iran-Toll-Booth-e1779128837746.png","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/04\/Iran-Toll-Booth-e1779128837746.png","width":614,"height":346},{"@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\/92c2be3b6162d92fb996417221509b6e","name":"Jose Torres","description":"Jos\u00e9 Torres is Senior Economist at Interactive Brokers. In this capacity, he is responsible for economic analysis, economic commentary and educational content focused on the economy. Prior to joining Interactive Brokers, Jos\u00e9 spent 6 years working as an economist in the United States government within the Federal Deposit Insurance Corporation (FDIC) and the Bureau of Labor Statistics (BLS). During his time with the U.S. government, Jos\u00e9 frequently led presentations covering economic conditions and forecasts for elected officials, political appointees and senior management. He also built economic models, consulted with private sector executives, contributed to the modernization of economic processes and gained recognition for predicting the inflationary episode of the 2020s. Jos\u00e9 has also been a professor of economics at the City University of New York and holds a master\u2019s degree in financial economics from West Texas A&M University. His skillset includes the ability to communicate and analyze complex economic topics in English and in Spanish and throughout his career, he has been interviewed by media outlets including Bloomberg, CNBC, CNN, WSJ, AP, Yahoo Finance, Cheddar, Business Insider, Seeking Alpha, PBS, FOX, Economic Times, Univision, Telemundo and others.","url":"https:\/\/www.interactivebrokers.com\/campus\/author\/jose-torres\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/04\/Iran-Toll-Booth-e1779128837746.png","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/243005","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\/903"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=243005"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/243005\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/241349"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=243005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=243005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=243005"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=243005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"\"](\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/05\/image-48.png\")
<\/figure>\n\n\n\n