It is. Likely on purpose to try to bring down rates before they refi. At least by lutnick and bessent. Trump doesn't have a clue about things anymore.

Chaotic meds. Tarrifs, not tariffs, on oil, not on oil, everything, not at all.

Markets want stability for investment, not chaos.

That, in addition to the slowing economy and red cuts = bad news for equities, risk assets.