Which is to say: the market hasn't yet fully priced in the effects of the tariffs. It will continue to fall until people have accepted that the tariffs are here to stay.
After that it could level off. Or continue to fall, if there are knock-on effects that haven't yet been priced in.
(Or, I suppose, a bunch of manufacturing could spring up in the US, superior to the rest of the world, giving us whole new export markets and pushing the Dow into six figures. Let's find out!)
> (Or, I suppose, a bunch of manufacturing could spring up in the US, superior to the rest of the world, giving us whole new export markets and pushing the Dow into six figures. Let's find out!)
Didn't we find out like a century ago with the Smooth-Hawley tariffs? Do we really have to test this again, and now in the sloppiest most haphazard way?
We appear to be intent on repeating a lot of old mistakes. So we're gonna find out.