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Investors had plenty to cheer about as U.S. stocks clawed their way back from April's post-"liberation day" selloff. But now, President Trump's latest tariff threats risk
undoing some of that progress, said George Cipolloni, a portfolio manager at Penn Mutual Asset Management. Making the situation even more precarious is the fact that the economic impact
from Trump's earlier tariffs has yet to be seen, while rising global bond yields have added another layer of risk to the setup for markets.