The administration’s whipsawing moves are leaving investors guessing. The risk is that this uncertainty comes at a real cost to the economy.

The U.S. stock market has lagged behind European indexes since Donald Trump returned to office in January, weighed down by confusion over the president's economic policies while European equities have been more stable due to a combination of factors,

European markets are expected to open in mixed territory Thursday, stumbling lower as President Donald Trump’s tariffs policy upends global trading relations.