Companies usually pass those cost increases along to buyers, which means tariffs cause inflation. And rising prices could certainly hinder economic growth. In fact, a forecasting model from the Federal Reserve Bank of Atlanta shows U.S. GDP declining at an annualized 2.4% in the first quarter. That would be the first drop in more than four years.

The stock market is taking a beating—again. The Nasdaq just hit its lowest level since 2020, the S&P 500 is deep in the red, and investors are scrambling. Recession fears, inflation worries, and policy uncertainty have Wall Street on edge.

Warren Buffett in 2017 offered sage advice for when the stock market is falling: “Keep your head.” It comes from Rudyard Kipling’s 1895 poem, “If.” Some investors have warned the U.S. economy is inching toward a correction,