Markets have been losing many of yesterday's historic gains.
US markets climbed steeply after Donald Trump paused higher tariffs on most countries – locking them at 10%.
However, they plunged again after the White House confirmed tariffs on Chinese goods are now at 145%.
Business journalist Peter Lewis told Mike Hosking the up-and-down is likely to continue until investors have certainty about what's happening.
He says while there is a pause, the tariffs haven’t gone away altogether, and that will lead to a lot of volatility in the market.
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The Mike Hosking Breakfast