Most investors are blaming Trump’s tariffs for the recent market sell-off. But if we look beyond the headlines and follow the actual market signals, a different — and far more serious — picture emerges. Yes, stocks are down, and that’s what everyone is focused on. But what’s more telling is that U.S. Treasury bonds also fell — which breaks the usual rule of market behavior. Traditionally, when stocks tumble, investors flock to Treasuries as a safe haven. This time, they didn’t. The classic stock-bond diversification strategy failed (not the first time.) Even more concerning: the U.S. dollar is weakening sharply. Against the euro, the dollar has lost 4.5% over the past month — a huge move in the currency markets. This creates a triple whammy for foreign investors in U.S. assets: 🔻 Stocks down 🔻 Bonds down 🔻 Forex losses Meanwhile, gold prices are surging, as expected when the dollar weakens. Since gold is priced in USD, it takes...