Key Takeaways The S&P 500 is off to its worst start for a presidential term since 2009, when Barack Obama entered the White House in the midst of the global financial crisis.Traditionally defensive sectors have outperformed since Trump's inauguration amid growing concern that tariffs could usher in a period of stagflation.

Freeport-McMoRan’s stock is being hurt by investor rotation out of the U.S. market but should rally as copper prices surge.

The stock market has gotten off to a very different start to the year than most investors might have imagined. The broader benchmark S&P 500 (SNPINDEX: ^GSPC) is down close to 5%, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) has entered correction territory (as of March 11).