The Dow Jones Industrial Average fell yet again on Monday, keeping President Trump under pressure over the tariff policy that has roiled the world since it was announced last Wednesday.

Trump appear adamant that tariffs are here to stay. He has argued both that they have the capacity to reinvigorate American manufacturing and that they are important in creating fairer trading relations with other nations.

Trump is “not looking at” a pause in the tariffs, he told reporters at the White House on Monday afternoon as he met with Israeli Prime Minister Benjamin Netanyahu.

A big change in trading policy was the nation’s “only chance … to reset the table,” Trump contended. The president acknowledged there would be some turmoil along the way but insisted there would be a “beautiful picture at the end.”

His confidence was not shared by financial markets, which whipsawed throughout the day.

They opened sharply down, after markets in the Far East and Europe had fallen during their trading days. American markets briefly spiked when reports emerged — but later proved erroneous — that Kevin Hassett, the director of Trump’s National Economic Council, had left the door ajar to a 90-day pause in tariff implementation.

The White House admonished those propagating this idea as “fake news,” and the markets duly fell to earth once again.

The Dow ended the day down 349 points, or nine-tenths of a percentage point. The broader-based S&P 500 fell by roughly one-quarter of a percentage point, while the tech-heavy Nasdaq composite wrung out a small gain of one-tenth of a percentage point.

Those moves were not of........

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