Financial markets are wobbling this week after President Trump extended his 90-day deadline for big trade deals over the weekend, following the imposition of unilateral tariffs on dozens of U.S. trading partners back in April.

As markets are reacting to changing White House policies, policies have been responding to fluctuations in the markets, and investors are seeing no end to the feedback loop in the near term.

Major stock indexes continued their jagged descent downward in morning trading Tuesday after tumbling Monday.

The Dow Jones Industrial Average fell more than 100 points in morning trading Tuesday after dipping about 400 points Monday. The S&P 500 was flat at noon after dropping 0.7 percent between Thursday and Monday.

The secretaries of the Commerce and Treasury departments pushed the deadline for trade deals to Aug. 1 over the weekend, past the initial Wednesday deadline announced in April.

But Trump has muddied the waters this week on the finality of that deadline, saying on Monday that it’s “not 100 percent firm,” then saying on Tuesday that “there will be no change” to the date.

“Markets are craving certainty,” Beacon Policy Advisors managing partner Stephen Myrow told The Hill.

Trump sent letters out to countries on Monday threatening both higher and lower tariffs than the original “reciprocal” tariffs announced in early April.

Threatened rates for Japan and Malaysia were higher, but rates for Kazakhstan, Laos, Myanmar, Tunisia, Bosnia and Herzegovina, Bangladesh, Serbia and Cambodia were lower.

© The Hill