After several months of a technical top-consolidation, the US market is entering a bear market. The piercing of the Magnificent-7 bubble will continue to drive selling pressure in the market.
Inflation pressures will tie the Fed's hands to bail out the market with another Fed Put. Another market bailout would cost much more than the $5 trillion COVID bailout.
The administration's policy sequencing is pushing inflation expectations higher as the immediate tariff implementation supersedes other anti-inflationary policies, which will take longer to implement.
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