Consumers, businesses, and even the prospects for U.S. manufacturing are all likely to become casualties in the escalating trade war between the U.S. and China, trade experts said.

After four increases in five days, 30-year refi rates have finally moved the other way, erasing almost all of Friday's jump. Rates dropped for most other refi loans as well.

Mortgage rates saw a welcome dip, after surging almost every day for a week and notching an almost 11-month high. Rates fell for many other loan types as well.

U.S.-traded shares of Ericsson jumped Tuesday after the Swedish telecommunications firm reported first-quarter profit that topped analysts’ expectations.