Stock Market Trump Bump Erased, Bonds Rally on Tariff Economic-Growth Worry

• The stock market’s post-election Trump bump has been wiped out.
• Both stocks and bond yields are sinking as Trump’s tariffs spark fears of a global trade war.
• It’s the opposite of what happened earlier this year when yields jumped on views tariffs would stoke inflation.

Investors sold stocks and went on a bond-buying spree as Trump’s tariffs kicked in on Tuesday.