Trump is close to caving on tariffs, veteran strategist says. But the damage to markets won’t be so easily undone. - MarketWatch
1. Trump may backtrack on tariffs amidst market panic and pressure. 2. Tariff increases are causing uncertainty and damage to the U.S. economy. 3. TMUBMUSD10Y yields rose dramatically, indicating liquidity concerns. 4. Kolanovic predicts partial recovery but no return to record highs soon. 5. China retaliates with increased tariffs, signaling further trade conflict.