In my opinion the market reaction is an over reaction. Even worst-case scenario the tariff raises are estimated to be a tax of about $800/household, there will likely be tax cuts including corporate tax cuts that offset this, and foreign trade is a definite minority of US economic activity. If Trump actually just stuck to his guns on economic nationalism the sell off would be over in a few weeks. The uncertainty and dooming is what's causing the sell off. I got out of the market because I am risk averse and I have like $10,000 tops to play around with, if I was a big investor with money I could spare to lose I would be buying like crazy right now. I honestly have no idea what the admin is doing but one cogent theory I have seen is that they want to induce a short recession to refinance government debt, bring down inflation and trigger the fed cutting interest rates and if so the market is playing right along. In any case this bear market is IMO 100% artificial but the hype around it will be self-fulfilling.