Markets dropped, inflation fears surged, and the global macro landscape shifted under the weight of new U.S. tariff threats and geopolitical flare-ups. In this episode of The Daily Macro, we unpack the sell-off in equities, dissect the latest jobs and ISM data, and explore why headline strength may be masking economic fragility. From central bank strategies and BRICS’ climate agenda to China’s gold stockpile and the Fed’s higher-for-longer stance, we break down what matters for your portfolio—and what’s coming next.