It's not that Trump doesn't care about markets. He just cares about tariffs more.

Investors are trying to make sense of President Trump's willingness to shrug off market losses in recent days. A review of the president's commentary suggests perhaps a simple answer: He just cares more about tariffs during his second go-around in the White House so far. "Markets are going to go up, and they're going to go down, but you know what: We have to rebuild our country," he said Tuesday afternoon in a trade-focused refrain that the president has sharpened in recent days even as market pressure has mounted. And the economic fallout is clearly in evidence with markets in...