Prices are rising and economic activity has begun to slow across parts of the nation as businesses and households try to adapt to U.S. President Donald Trump's erratic rollout of sweeping tariffs aimed at reshaping global trade,

The Federal Reserve’s first deep look at the economy since President Trumped imposed tariffs on the rest of the world showed the U.S. still expanding steadily, but “pervasive” uncertainty threatened to curtail growth in the months ahead.

Chief executives of Walmart, Target and Home Depot reportedly warned Trump that supply chain disruptions would lead to empty shelves at U.S. stores in weeks.

Remarks by President Trump and his Treasury secretary fueled a rebound in markets, highlighting how Wall Street is influenced by news about the White House’s policy intentions.