President Trump's tariffs and his decision to fire the BLS commissioner could drag the stock market lower.

The U.S. stock market has taken investors for a bumpy ride this year. The benchmark S&P 500 ( ^GSPC 0.78% ) fell as much as 19% from its record high when President Donald Trump announced sweeping "Liberation Day" tariffs on April 2, but the index swiftly rebounded when he paused the duties for 90 days.

However, Trump just gave investors two reasons to worry about another market crash: He recently reinstated modified versions of the severe tariffs announced earlier this year, and he fired the Bureau of Labor Statistics commissioner in a way that threatens to politicize the independent agency responsible for gathering economic data.

Here's what investors should know.

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