At the same time Trump paused some tariffs last week, he also increased tariffs on China, bringing levies on Chinese goods to a cumulative level of 145%. In response, China hiked tariffs on U.S. goods to 125%, escalating a trade war between the world's two largest economies. ????? ???????  

"Markets are struggling with a lot of uncertainty and that means volatility," Powell said on Wednesday. Still, he added, the volatility reflected the significance of the policy changes, rather than abnormal behavior in the markets. ????????????  

Wednesday's address marked Powell's first public remarks since Trump last week paused his so-called "reciprocal tariffs" on most countries for 90 days. Stocks soared minutes after Trump's announcement, recovering much of the losses suffered in the aftermath of the "Liberation Day" tariffs start a week earlier. It amounted to one of the most volatil

Stocks had fallen in early trading on Wednesday after chipmaker Nvidia disclosed it was recording a $5.5 billion charge in accordance with a new Trump administration restriction on exports to China. ????? ???????  

The S&P 500 dropped 2.2% at market close, while the tech-heavy Nasdaq plunged 3%. Both indexes deepened losses suffered earlier in the day. ????????????