Like it or not, the bond market rules all

President Trump unveiled his large tariff strategy within the gradual afternoon on April 2, doubtless gazing for the stock market to despise the understanding. And it did. The Standard & Depressed's 500 Index fell 597 facets, or 10.5%, over the following two days.

To place the debacle into level of view, the S&P 500's beatdown changed into once its most attention-grabbing two-day level loss for the explanation that pause of 2007, bigger even than the 2-day loss the index suffered as the Covid-19 pandemic erupted in 2020.