Investors tried to recover from a steep Monday sell-off after President Donald Trump pushed the tariff deadline once again and signaled flexibility on that timing as well with countries willing to negotiate. Wolfspeed soared 40%.

Trump late Monday said the new Aug. 1 tariff deadline is “not 100% firm,” adding that “If they call up and they say something a different way, we’re going to be open to that.”

His comments came after he posted letters to countries announcing new tariffs on their respective imports.

Stocks sold off Monday following Trump’s posts, with the Dow tumbling more than 400 points, after the president set 25% tariffs on goods imported from South Korea and Japan. Overall, at least 14 countries are set to face new duties including South Africa and Kazakhstan.

However, some traders no longer forecast the latest U.S. tariffs to be as strict as initially feared, with many expecting that the worst from the trade war has now passed.

“If you go through the details, I don’t even know if anybody understands the difference between what was announced today, what was there previously, and if it will actually be implemented, and which companies it actually impacts,” Trivariate Research CEO Adam Parker said Monday on CNBC’s “Closing Bell.”

“So, I think it’s just a little bit of selling as we got the highs, and kind of recalibrating before July earnings season,” Parker added. “But I don’t think this is the sign of a new regime at all.”