High-priced stocks and bonds raise tariff threat for markets

News Snapshot:

Open this photo in gallery: With so much uncertainty hanging over U.S. assets, investors’ cash has flowed elsewhere for much of this year, into the likes of European stocks and bonds, gold.TIMOTHY A. CLARY/AFP/Getty Images Global markets are telling conflicting stories about the possible longer-term impact of U.S. tariffs on growth, a schism that investors say means either stocks or bonds could see a steep correction once it’s clear which is right. U.S. President Donald Trump’s erratic approach to trade policy that generated so much volatility earlier this year seems to have left markets wary of reacting to his near-daily...