S&P 500 futures bounce after US tariffs go into effect

Not only that, the Nikkei just touched a session high and is up 1.3% on the day too. Risk is rallying across the board as the AUD and NZD are gaining while the JPY is the laggard. Goes to show that investors have been taking in and digesting the trade rhetoric rather well ahead of the implementation today - even with the threat of additional tariffs.

It seems like tit-for-tat tariffs are getting a bit stale, and it's going to take more to spook investors moving forward. But you still can't rule out that further escalation by both parties may still sour the mood.