Interbank is already destroyed, nasty things were happening below the surface already, with or without this... Default Waves are happening and would continue to happen tariffs or no tariffs... This will become a market crisis if he puts 25 % tariffs Friday, on top of global recession already in real economy happening. Like a wise man once said, equities and stocks are like a water tap, credit markets are like a light switch, it's either on or off. They were already flashing red, now it's a wrap.
Pension Funds drive US Markets, when Algo's go off it's a correction I guess... When people want their money back and Pension Funds pull out, it's a crisis. Biggest Fish by far are Pension Funds, with states increasing taxes to feed shortfalls, those extra taxes going into markets as well... Very low interest rates and Pension Funds created US Bubble, they will pull out but when they jump back in, with ZIRP and QE, US Markets will fly. Offshore money will flow like crazy, world economies will still be wrecked, but US markets might be on track again by next Election due to inflow of money US Markets receive, if he gets ahead of this now... With markets back to normal, he will claim economic recovery. It's his only play, he is running with it