Dow, S&P 500, Nasdaq drift lower as tariff chaos pauses for a day
Investors' consensus view of the macroeconomy has flipped on its head in the past month. In the latest Bank of America Fund Managers Survey released on Tuesday, 49% of respondents said they expect a "hard landing" for the global economy — where economic growth deteriorates before inflation fully retreats — in the next 12 months. Last month, just 11% of respondents had expected this outcome. Conversely, a "soft landing" — where inflation falls to the Fed's 2% target without the economy tipping into recession — is no longer the consensus....