Wall Street thought the stock market would act as a check on the president. It's not panning out.

The U.S. stock market is falling further following President Donald Trump’s latest escalation in his trade war, briefly pulling Wall Street 10% below its record set just a few weeks ago

In the bond market, Treasury yields climbed to regain more of their losses from recent months sparked by worries about the U.S. economy’s strength. The 10-year Treasury rose to 4.30% from 4.28% late Tuesday and from 4.16% at the start of last week.