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The S&P 500 and Dow are back in a correction. Here’s what experts are watching for next week  

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Senior portfolio manager Kevin Divney is trying to make sense of what steel tariffs are actually doing to the Chinese economy, noting, “There still is that tone of ‘what is the transparency into the underlying Chinese economy?’ What is the data, and how is it being reported?”

There’s also the question of what effects those tariffs are having in the U.S. Given the structure of the U.S. economy, he says, the knock-on effects of the tariffs on China’s economy could have bigger implications for producers in the U.S. than the tariffs themselves.

“The actual impact of tariffs, if you talk to steelmakers or automakers, it can be material, it can be disruptive, but as a proportion of the total economy, it’s much smaller than the aggregate Chinese economy decelerating,” Divney said.

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