"The best estimate of the loss from tariff policy is now closer to $30 trillion."Summers added that the tariffs were the most expensive and "masochistic" the US had imposed in decades.Mohamed El-Erian"The price action in global financial markets in the immediate aftermath of the US tariff announcement points to major worries about global economic growth,

The market selloff will put pressure on Jerome Powell to deliver quick rate cuts, Christopher Smart writes in a guest commentary.