Trump Tariffs Tipped Markets Into Correction. Why the Fed’s Powell Must Act Soon and 5 Other Things to Know Today. - Barron's

1. S&P 500 enters correction amid Trump's tariff threats on EU imports. 2. Effective tariff rate for U.S. imports rises from 2.4% to 10.1%. 3. Federal Reserve faces pressure from rising inflation due to tariffs. 4. Tariffs may impact demand, affecting airlines like Delta Air Lines (DAL). 5. Market confidence shaken, forecasters are overly optimistic about stock recovery.