S&P 500 Correction: 1 Spectacular Growth Stock to Buy Now and Hold for the Long Run
The S&P 500 slipped into correction territory in April after suffering a decline of as much as 19% from its all-time high (narrowly avoiding the bear market threshold of 20%). The tariffs that President Donald Trump imposed on imported goods from America's trading partners triggered the sell-off, as investors feared they could lead to a severe economic slowdown.Tariffs primarily affect physical goods, whereas digital products and services are mostly exempt. Spotify Technology (NYSE: SPOT) operates the world's biggest music streaming platform, and its subscriptions are not facing any new levies as things stand today. Moreover, Spotify operates in 180 different countries, so its revenue base is very diversified, which insulates the company from dramatic shifts in trade policy. Spotify stock is down 13% from its all-time high, but given its resistance to tariffs, here's why it could be the ideal stock to buy on the dip during the S&P 500 correction.Continue reading
The S&P 500 slipped into correction territory in April after suffering a decline of as much as 19% from its all-time high (narrowly avoiding the bear market threshold of 20%). The tariffs that President Donald Trump imposed on imported goods from America's trading partners triggered the sell-off, as investors feared they could lead to a severe economic slowdown.
Tariffs primarily affect physical goods, whereas digital products and services are mostly exempt. Spotify Technology (NYSE: SPOT) operates the world's biggest music streaming platform, and its subscriptions are not facing any new levies as things stand today. Moreover, Spotify operates in 180 different countries, so its revenue base is very diversified, which insulates the company from dramatic shifts in trade policy.
Spotify stock is down 13% from its all-time high, but given its resistance to tariffs, here's why it could be the ideal stock to buy on the dip during the S&P 500 correction.
