The U.S. stock market fell further Tuesday following an escalation in tariff talks, briefly pulling Wall Street 10% below its record set last month. And like it's been most of the past few weeks, the market’s slide on Tuesday was erratic and dizzying.

Trump’s apparent acknowledgement on Fox News that his policies, including tariffs, could cause a period of “transition” for the economy was also disturbing – since it appeared to indicate that short-term pain is in the offing and that he is prepared for a country weary of high prices for groceries and housing to endure it.

The U.S. stock market is falling further following President Donald Trump’s latest escalation in his trade war, briefly pulling Wall Street 10% below its record set just a few weeks ago.