Amid this week’s tariff turmoil, U.S. stocks tumbled, U.S. Treasurys sold off, and the U.S. dollar weakened. Kai explains what this triple sell-off could mean for the future of the American economy. And, is the era of cheap stuff in America over? Donald Trump administration officials are arguing it’s a good thing. We’ll get into it. Plus, we’ll weigh in on penguin memes and using public phones during a round of Half Full/Half Empty.

Here’s everything we talked about today:

• "Treasury Secretary Bessent says the American dream is not about 'access to cheap goods'" from CNBC

• "Cheap Consumer Goods Are the American Dream, Actually" from Bloomberg

• "The Trump administration says cheap goods aren’t part of the American dream. They’re wrong." from Vox

• "The bond market is acting weird. It spooked Trump" from CNN Business

• "After Trump’s Tariffs, Stocks Plunged but Penguin Memes Ticked Up" from The New York Times

• "More students opt for certificates as undergraduate degree earners decline" from Marketplace

• "A Frenzy at Trader Joe’s: ‘Everyone’s Here for the Tote Bags’" from The New York Times

• "The Masters offers public phones as alternatives to cellphones. Here's what attendees think" from Fast Company

  Got a question for our hosts? Email makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.