Wall Street shifted lower in early trading Wednesday as markets took in more corporate earnings reports while considering the impact of tariffs being imposed by the United States and China.

The quick recovery from what could be serious scares shows that traders are an optimistic bunch–and it’s hopefully a good sign for the rally that is now into its third year.

Tariffs and an imminent trade war were shots across the market’s bow Monday morning, but irrational exuberance is what made the market so vulnerable in the first place. I say that because the weekend announcement of the tariffs couldn’t really be the cause of the plunge at Monday’s opening. They were hardly a surprise, after all.

The stock market fell on Monday after President Donald Trump slapped tariffs on Canada, Mexico and China, eliciting threats of retaliation and setting the stage for a trade war. Traders demonstrated their jitters with a selloff of U.

U.S. stock futures and the dollar fell on Tuesday, while Hong Kong shares slipped from two-month highs, as the U.S. and China went tit-for-tat on tariffs and raised the spectre of a broader, damaging trade conflict.

Major U.S. stock indexes opened lower Monday after President Donald Trump's tariffs on Canada, Mexico and China triggered a trade war.

Stock markets tumbled while the dollar rallied and oil prices rose Monday over concerns about the global economy after US President Donald Trump launched trade wars with Canada, China and