Why did SPY stock swing so much on January 21?

Tariff concerns tied to reports about Greenland and EU goods hit risk appetite, producing quick shifts between buying and selling. Intraday rebounds failed as fresh headlines crossed. Liquidity looked thin around drops, and breadth weakened, so rallies did not stick. The tape favored patience over chasing strength.

What is Tom Lee’s forecast telling SPY stock investors?

Tom Lee flagged a near-term S&P 500 drawdown as the market digests a Fed leadership transition, AI repricing, and weak technicals. He sees a better setup later in 2026. For investors, this suggests smaller positions, staged entries, and tighter risk controls while waiting for stronger breadth.

Should Canadians hedge S&P 500 ETF exposure when tariff concerns rise?

Hedging reduces currency swings, which helps if USD weakens. Unhedged exposure can help when USD rises in risk-off periods. Choose based on your spending currency, time horizon, and risk tolerance. A mix can work, pairing core unhedged with some CAD-hedged exposure for balance during volatile stretches.

Is now a buy for SPY stock or is it better to wait?

We would avoid chasing strength after headline spikes. Scale in on decisive support holds and improving breadth. If leadership broadens and sellers fail to break key averages, add gradually. If breadth deteriorates and support cracks, keep cash ready and wait for better risk‑reward setups.

Global Market Insights

SPY Stock Today: Tariff Jitters, Tom Lee Warning on January 21

ByDanny Kontos January 22, 2026January 22, 2026

SPY stock whipsawed on January 21 as tariff concerns tied to reports on Trump’s Greenland and EU stance shook sentiment. Canadian investors saw the S&P 500 ETF rally on headlines, then fade as sellers returned. A Tom Lee forecast for a near-term pullback, driven by a Fed transition and AI repricing, added caution. We explain what moved the tape, what signals matter next, and how Canadian portfolios can respond without overreacting. All prices are in USD unless noted.