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BRIEF-Fitch Says 'Liberation Day' Takes US Tariff Rate Back to Level Last Seen in 1909

BY Reuters | ECONOMIC | 04/03/25 11:24 AM EDT

April 3 (Reuters) - Fitch:

* FITCH: US GROWTH IN 2025 LIKELY TO BE SLOWER THAN 1.7% THAT WE HAD PROJECTED IN MARCH, GIVEN HIGHER-THAN-ANTICIPATED TARIFFS

* FITCH: TARIFF HIKES WILL RESULT IN HIGHER CONSUMER PRICES AND LOWER CORPORATE PROFITS IN US

* FITCH: SOME SOVEREIGNS WHERE LEVEL OF VALUE-ADDED IN EXPORTS TO US IS LARGE AS SHARE OF GDP COULD FACE DOWNWARD PRESSURE ON RATINGS AS US TARIFFS RISE

* FITCH ON US TARIFFS: UPWARD PRESSURE ON GOODS PRICES FROM TARIFFS MEANS FED IS LIKELY TO BECOME MORE CAUTIOUS ABOUT FURTHER RATE CUTS IN NEAR TERM Source text:

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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