Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by <a href="https://www.factset.com/">Factset</a>. Powered and implemented by <a href="https://www.factset.com/solutions/business-needs/digital-solutions">FactSet Digital Solutions</a>. <a href="https://www.factset.com/privacy">Legal Statement</a>. <br>This material may not be published, broadcast, rewritten, or redistributed. ©2025 FOX News Network, LLC. All rights reserved. <a href="https://help.foxbusiness.com/hc/en-us/sections/4405278462107-FAQ">FAQ</a> - <a href="/privacy-policy">New Privacy Policy</a><br>Jason Katz, Managing Director of Katz Wealth Management at UBS Financial Services, shares how he is advising clients in this market climate as uncertainty over tariffs spikes volatility.<br>Investors stomached big swings in the stock market this week with the S&P 500, the broadest measure of equities, sinking into correction territory spooked by President Trump's ongoing tariff push against Canada and Mexico, while putting the European Union on notice with a potential 200% alcohol tariff. <br>All three of the major U.S. benchmarks clocked solid gains Friday, with the Dow Jones Industrial Average up 1.6%,<a href="https://www.foxbusiness.com/quote?stockTicker=SP500" target="_blank" rel="noopener"> while the S&P 500 </a>and the Nasdaq Composite rose over 2%. <br><a href="https://www.foxbusiness.com/media/us-business-owners-share-renewed-optimism-trumps-economy-unfazed-tariffs-doge" target="_blank" rel="noopener"><strong>WHY SOME BUSINESS OWNERS ARE UNFAZED BY TRUMP'S TARIFFS</strong></a><br><strong>S&P 500</strong><br>Still, for the week, the Dow lost 3%, while the S&P 500 and Nasdaq Composite fell over 2%.<br><a href="https://www.foxbusiness.com/lifestyle/trump-threatens-200-tariff-french-wine-other-eu-alcohol-products" target="_blank" rel="noopener"><strong>TRUMP THREATENS 200% TARIFF ON EU ALCOHOL</strong></a><br>At the same time, <a href="https://www.foxbusiness.com/markets/gold-price-rises-above-3000-ounce-first-time-amid-economic-uncertainty" target="_blank" rel="noopener">gold, a safe haven, crossed $3,000 </a>per ounce for the first time before pulling back as recession fears ticked up. <br>Jason Katz, Managing Director of Katz Wealth Management at UBS Financial Services, is telling his clients to hang tight and to put their political views, whatever they are, aside. <br>"Take a deep breath, this is not our first rodeo. Clients have been with me five, ten, 20 and, in some cases, 30 years," he told FOX Business. "If you’re diversified, it's not so bad, literally look at your portfolio, look at your bonds, look at your value stocks," he advised, noting the average 60/40 portfolio (60-stocks/40-bonds) is positive on the year, with bonds up about 1.5%. <br><strong>"</strong>Recession is generally not caused by tariffs, rather exogenous events, and it's premature to use the recession word," he noted. "I do expect to see more pro-growth policies in the latter half of the year," he added. <br><a href="https://www.foxbusiness.com/markets/why-gold-prices-could-hit-3000-despite-volatility" target="_blank" rel="noopener"><strong>THE CASE FOR $3,000 GOLD PRICES</strong></a><br><span>President Donald Trump walks across the South Lawn to board Marine One at the White House on March 7, 2025, in Washington, D.C. </span><span> (Kayla Bartkowski/Getty Images / Getty Images)</span><br>Last weekend, Trump was asked about the potential of a recession. <br>"This is a period of transition, because what we are doing is very big. We are bringing wealth back to America," <a href="https://www.foxbusiness.com/media/trump-us-experience-period-transition-economy-see-recession-year" target="_blank" rel="noopener">Trump told FOX Business’ Maria Bartiromo </a>on ‘Sunday Morning Futures.’<br><a href="https://www.foxbusiness.com/media/howard-lutnick-rips-atlanta-fed-gdpnow-contraction-prediction" target="_blank" rel="noopener">Commerce Secretary Howard Lutnick</a> defended Trump’s tactics to bring back "fair trade and reciprocal trade" on Friday to boost steel, aluminum, copper, automobiles, semiconductors, pharmaceuticals and lumber, while shooting down recession talk.<br>U.S. Commerce Secretary Howard Lutnick talks reciprocal tariffs, trade deficits, American manufacturing, auto production and the macroeconomy in a wide-ranging interview with FOX Business' Maria Bartiromo.<br>"In the fourth quarter of 2025, this economy is going to be humming," he said, speaking with Bartiromo. <br><a href="https://www.foxbusiness.com/apps-products" target="_blank" rel="noopener"><strong><u>GET FOX BUSINESS ON THE GO BY CLICKING HERE</u></strong></a><br>The Federal Reserve, on Wednesday, will release its March decision on interest rates. According to the <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME’s FedWatch Tool</a>, which tracks the probability of rate moves, 99% of market participants expect rates to remain unchanged at 4.25% to 4.50%. The next rate cut could come as early as June, the tool shows, and perhaps a second in July.  <br><br>Get a brief on the top business stories of the week, plus CEO interviews, market updates, tech and money news that matters to you.<br>We've added you to our mailing list.<br>By clicking subscribe, you agree to the Fox News <a href="https://www.foxnews.com/privacy-policy" target="_blank">Privacy Policy</a> and <a href="https://www.foxnews.com/terms-of-use" target="_blank">Terms of Use</a>, and agree to receive content and promotional communications from Fox News. You understand that you can opt-out at any time. <br> Quotes displayed in real-time or delayed by at least 15 minutes. 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