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Financial markets were whipsawed Monday morning. Stocks tumbled after President Trump slapped tariffs on Canada, Mexico and China, but then significantly pared losses after he said the
levies on Mexico would be delayed a month after a friendly talk with that nation's leader. It's all lending markets a level of uncertainty that wouldn't be out of place in a
Hollywood movie script, Kent Engelke, chief economic strategist at Capitol Securities Management, said in a phone interview. Markets, of course, hate uncertainty, he said, and part of that
uncertainty is what the ultimate economic ramifications of tariffs, if enacted, will be. It stands to reason that tariffs tend to be inflationary and potentially recessionary, he said, but
noted the economy has defied a number of recent expectations, including the expectation it would slow significantly as a result of the Federal Reserve's rate-hike cycle.
