As the Trump Administration keeps piling on tariffs, U.S. stock traders are averting their gaze and holding on tight. Corporate finance chiefs are having a more difficult time.

Optimism among North American CFOs fell across the board in the third quarter, driven by worry over trade policy and internal risks such as recruiting and maintaining top talent, according to a survey released by Deloitte LLP on Thursday. After hitting an all-time high in the first quarter of this year, a measure of CFOs’ optimism about their own companies’ prospects fell for the second straight period to the lowest in a year.

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