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ICYMI: Why Global Markets Are In Flux : 1A President Donald Trump's escalating trade war sent markets lurching between hope and panic yesterday.

But overall, stocks have been tumbling since last Wednesday. That's when President Trump announced a universal 10 percent tariff on all goods coming into the U.S.

He also announced additional import taxes on 185 countries. Those tariffs are set to kick in Wednesday.

In response, the global economy is in a tailspin. We discuss the latest.

Want to support 1A? Give to your local public radio station and subscribe to this podcast. Have questions? Connect with us. Listen to 1A sponsor-free by signing up for 1A+ at plus.npr.org/the1a.

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ICYMI: Why Global Markets Are In Flux

ICYMI: Why Global Markets Are In Flux

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U.S. President Donald Trump holds up a chart while speaking during a "Make America Wealthy Again" trade announcement event in the Rose Garden at the White House in Washington, DC. Chip Somodevilla/Getty Images hide caption

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Chip Somodevilla/Getty Images

U.S. President Donald Trump holds up a chart while speaking during a "Make America Wealthy Again" trade announcement event in the Rose Garden at the White House in Washington, DC.

Chip Somodevilla/Getty Images

President Donald Trump's escalating trade war sent markets lurching between hope and panic yesterday.

But overall, stocks have been tumbling since last Wednesday. That's when President Trump announced a universal 10 percent tariff on all goods coming into the U.S. He also announced additional import taxes on 185 countries. Those tariffs are set to kick in Wednesday.

In response, the global economy is in a tailspin. What's going on?

Find more of our programs online. Listen to 1A sponsor-free by signing up for 1A+ at plus.npr.org/the1a.