As markets tank, Trump tries to shift attention to Powell

As Senate Republicans prepare to go to the floor to begin the process of passing their tax-cut package, global markets are in a tailspin over President Donald Trump’s trade war, with all major indices plummeting.

China announced retaliatory tariffs today — 34% tariffs, to be exact. That news, combined with Trump’s geopolitical obstinance, is driving a deeper, bear-shaped downturn on Wall Street.