The administration’s whipsawing moves are leaving investors guessing. The risk is that this uncertainty comes at a real cost to the economy.

Speaking outside the White House on Tuesday, where he was testing out his brand new Tesla car with Elon Musk, President Donald Trump called the stock market “a fake economy” after dragging the S&P 500 into correction territory.

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.