Washington, D.C., may be calling the escalating trade tensions a negotiation, but Wall Street is saying the situation looks like a trade war, analyst Michael Farr told CNBC on Monday.

In fact, there has been a shift in sentiment in the market since June 15, when President Donald Trump said the U.S. would slap a 25 percent tariff on up to $50 billion in Chinese goods, the president of investment management firm Farr, Miller & Washington said.

It wasn’t Trump’s first move to crack down on what he calls unfair trade practices. However, it also spurred on a tit-for-tat exchange between the U.S. and China.

“At what point do we turn into some sort of barroom brawl?” Farr, a CNBC contributor, said on “Power Lunch.”

“There is a new cloud of fear. Will it last? We haven’t seen any one of these downward sort of trends take over yet.”