US so-called ‘reciprocal’ tariffs set to take effect, triggering widespread opposition, market uncertainty

Currency trader positioning is turning bearish on the dollar and becoming more bullish on the currencies of major U.S. trading partners as the United States prepares to launch a multinational trade war,

said Joseph Brusuelas, chief economist at RSM U.S., in a research note published Monday

Our objective is a negotiated solution. But of course, if need be, we will protect our interests, our people and our companies,

von der Leyen said

With challenging times ahead, Prime Minister Carney and President Sheinbaum emphasized the importance of safeguarding North American competitiveness while respecting the sovereignty of each nation,

Carney's office said in a statement

We are at a very tenuous spot, being at the bottom of a corrective trading range ... that leaves us poised for either a very sharp bounce or a scary breakdown,

Sosnick said

I can't recall a situation where the stakes were this high and yet the outcome was so unpredictable,

said Steve Sosnick, chief strategist at Interactive Brokers

Ideally, we just get one number and then we can figure out the downstream impact,

said Sonu Varghese, global macro strategist at Carson Group

The bottom line is in the face of uncertainty that's flirting at levels that we haven't seen since the pandemic or the financial crisis, you need to be diversified,

said Jack Ablin, chief investment officer at Cresset Capital

I think the market is really holding its breath,

said Mark Spindel, chief investment officer at Potomac River Capital LLC, who expects the so-called fear gauge to climb toward 30, a level associated with a high degree of risk aversion

The market to some extent has discounted the cumulative negative effect of tariffs on potential economic growth and corporate profitability,

he said

But my fear is that we won't get that, or even if we get one number that will be subject to negotiations,

he said