It's been a brutal start to March as markets reverse their Trump-driven euphoria following the president's recent tariff war escalation and fears over slower economic growth in the face of stubborn inflation.

In a recent op-ed, the board warned of a possible jolt in consumer prices once the tariffs go into full effect and urged someone to file a lawsuit in response.

Analysts are concerned that investors’ fears go beyond tariffs and point to broader economic uncertainty. The market rally following President Donald Trump’s reelection is effectively over. The S&P 500 has lost nearly all of its post-election gains as Wall Street responds to Trump’s decision to move forward with aggressive tariffs.