Family offices rattled by market swings and tariffs

One’s politics definitely play in to the queries we’re receiving,

the private wealth advisor said

Because they’re centimillionaires, the focus is on decades, not quarters,

Garcia said in an email to CNBC

Most families are hanging back and not making any big bets, staying diversified and maintaining liquidity, until they see how things play out,

said Michael Zeuner, managing partner of WE Family Offices

I think on the portfolio construction side, we’re fine, and our clients are not really concerned about that,

he said

Big, bold, unexpected - a game changer for the outlook,

Bank of America Global Research economists and analysts said in a Wednesday note,

You're looking at Biden data,

Lutnick argued in a Bloomberg Television interview,

'Fed cuts because of weak economic data' is not a good thing for markets anymore,

Citi equity strategist Drew Pettit said

The pressure this week is broad based, with notable weakness in small caps and growth, while global markets continue to lead,

said Mark Hackett, chief market strategist at Nationwide

We spoke with the Big Three auto dealers. We are going to give a one-month exemption on any autos coming through USMCA (the US, Mexico and Canada trade agreement),

Trump said in a statement, through White House press secretary Karoline Leavitt

I told him that many people have died from Fentanyl that came through the Borders of Canada and Mexico, and nothing has convinced me that it has stopped,

Trump wrote on Truth Social

Exactly how strong our economy is over time has a lot to do with U.S. consumers' comfort with continuing to go out to restaurants and continuing to buy washers and dryers and just that general activity. And a lot of what we’re talking about here is probably going to slow some of that,

said Glynn Tonsor, an agricultural economist at Kansas State University

It is going to do nothing to help with the food inflation in the U.S, ... I don’t see it as sustainable. I don’t find it plausible that corporate folks who surround Trump are going to sit back and allow him to destroy their foreign markets.”

said Timothy Wise, author of “Eating Tomorrow” and expert on agricultural trade between Mexico and the U.S

There is no domestic market for the amount of corn, soybeans, wheat, and other agricultural products that we now export in significant quantities,

he said

In the end we want good trade agreements where it benefits us as U.S. producers,

he said

We estimate the tariffs could lead to a nearly $1,000 per household increase annually in the cost of goods,

said Nationwide Mutual chief economist Kathy Bostjancic

The president gets to make the decision,

the Commerce secretary said

It's not really an exemption."

Asked if autos could see an exemption from the tariffs that went into effect early on Tuesday, Lutnick told Bloomberg

If Lutnick's comments about giving relief on tariffs for Canada/Mexico holds, it would ease some of our concerns,

said Mohit Kumar, chief Europe economist at Jefferies

It will not eliminate the tariffs, but it might modify the tariffs somewhat. That's a decision that will come tomorrow,

Lutnick said

The president is considering giving you relief, if you live under those rules. And if you haven't lived under those rules, well, then you have got to pay the tariff,

Lutnick said