But average American gonna luv lower oil

Trump will undoubtedly claim credit for lower oil prices, and in this case, he is probably correct.

The market always anticipates reduced demand when a recession looms. Not as many trucks on the highways or people driving long vacation miles (or even driving to work with job cuts).

And nothing screams “recession” like a good old fashioned trade war.

Even if he reverses course, significant damage has already been done. It’s said that the one thing markets detest is uncertainty, and uncertainty, as well as continuing uncertainty over what-the-hell-is-he-going-to-do-next is Trump’s middle name.

All those folks on Wall Street who winked and said “He’ll never do what he said he was going do do” aren’t saying that anymore. And now, even they don’t have a clue what he’s going to do next.

And the “Masters of the Universe” tend to pull in tgeir horns when the road ahead grows murky. And Voilà! We have a recession.