Trump’s tariffs and the trade war continue to roil global markets. Follow along for live updates on the latest inflation report, as well as the Dow, S&P 500 and Nasdaq.

Markets had dismissed tariff risks under the assumption that Trump would follow an earlier pattern and back off, in what became known as the so-called TACO trade. That allowed stocks to reach new record-high territory recently, marking a stunning rebound from the collapse triggered by his “Liberation Day” reciprocal tariffs in April.