The markets arent rational. They also dont operate in a vacuum. There are real world impacts that have not yet manifested that are downstream from the implementation of this tariff nonsense that will matter. Slowdown of consumption, loss of productivity, higher prices across the board, disruption of supply chains, mass layoffs. This is the direction we are firmly headed in, in addition to a changing world order where our allies move to decrease their dependence on US for trade etc. The market will go up and down, not necessarily in accordance with logic or common sense, but the long term trend isnt going to be good.