Recently, President Donald Trump delayed the implementation of his proposed 50-percent tariffs on the European Union until July 9. Axios Senior Economics Reporter Courtenay Brown noted that it was precisely the extreme volatility in financial markets that pushed the Trump administration to freeze what had been dubbed as the "Liberation Day" tariffs. According to Brown, what now moves President Trump is no longer the Dow Jones or the S&P 500 – but rather the bond market. She further warned that perhaps the most unsettling possibility is the U.S. losing its status as the world's (financial) safe haven – a sobering prospect, to say the least.