Besides, all the "I'm tariffing! Maybe not. I'm tariffing! I'm super serious this time! Maybe not" leading up to this destroyed confidence that these'll even be

Besides, all the "I'm tariffing! Maybe not. I'm tariffing! I'm super serious this time! Maybe not" leading up to this destroyed confidence that these'll even be fully implemented—the tariffs are still rolling out, and will be until early next month. And if implemented, will he keep them going? Month after month? I don't think most people with capital believe it. Proof of the uncertainty is that Wall Street clearly thinks there's a good chance he'll back off. That's why the market still has room to keep falling, rather than having already fallen as far as it will for a while. It's got a lot of room left. All that room is people betting he's not going to keep this up.