diff --git a/packages/react-reconciler/src/ReactFiber.new.js b/packages/react-reconciler/src/ReactFiber.new.js
index c5a5919494d86..e78db21baf74e 100644
--- a/packages/react-reconciler/src/ReactFiber.new.js
+++ b/packages/react-reconciler/src/ReactFiber.new.js
@@ -19,6 +19,7 @@ import type {
   OffscreenProps,
   OffscreenInstance,
 } from './ReactFiberOffscreenComponent';
+import type {TracingMarkerInstance} from './ReactFiberTracingMarkerComponent.new';
 
 import {
   createRootStrictEffectsByDefault,
@@ -757,6 +758,11 @@ export function createFiberFromTracingMarker(
   const fiber = createFiber(TracingMarkerComponent, pendingProps, key, mode);
   fiber.elementType = REACT_TRACING_MARKER_TYPE;
   fiber.lanes = lanes;
+  const tracingMarkerInstance: TracingMarkerInstance = {
+    transitions: null,
+    pendingSuspenseBoundaries: null,
+  };
+  fiber.stateNode = tracingMarkerInstance;
   return fiber;
 }
 
diff --git a/packages/react-reconciler/src/ReactFiber.old.js b/packages/react-reconciler/src/ReactFiber.old.js
index 9a4e3e2aa0e4c..15019976d0ab2 100644
--- a/packages/react-reconciler/src/ReactFiber.old.js
+++ b/packages/react-reconciler/src/ReactFiber.old.js
@@ -19,6 +19,7 @@ import type {
   OffscreenProps,
   OffscreenInstance,
 } from './ReactFiberOffscreenComponent';
+import type {TracingMarkerInstance} from './ReactFiberTracingMarkerComponent.old';
 
 import {
   createRootStrictEffectsByDefault,
@@ -757,6 +758,11 @@ export function createFiberFromTracingMarker(
   const fiber = createFiber(TracingMarkerComponent, pendingProps, key, mode);
   fiber.elementType = REACT_TRACING_MARKER_TYPE;
   fiber.lanes = lanes;
+  const tracingMarkerInstance: TracingMarkerInstance = {
+    transitions: null,
+    pendingSuspenseBoundaries: null,
+  };
+  fiber.stateNode = tracingMarkerInstance;
   return fiber;
 }
 
diff --git a/packages/react-reconciler/src/ReactFiberBeginWork.new.js b/packages/react-reconciler/src/ReactFiberBeginWork.new.js
index 0d575e14332ea..9f60e0ab227e9 100644
--- a/packages/react-reconciler/src/ReactFiberBeginWork.new.js
+++ b/packages/react-reconciler/src/ReactFiberBeginWork.new.js
@@ -35,6 +35,7 @@ import type {
 } from './ReactFiberCacheComponent.new';
 import type {UpdateQueue} from './ReactFiberClassUpdateQueue.new';
 import type {RootState} from './ReactFiberRoot.new';
+import type {TracingMarkerInstance} from './ReactFiberTracingMarkerComponent.new';
 import {
   enableSuspenseAvoidThisFallback,
   enableCPUSuspense,
@@ -255,9 +256,12 @@ import {
   getSuspendedCache,
   pushTransition,
   getOffscreenDeferredCache,
-  getSuspendedTransitions,
+  getPendingTransitions,
 } from './ReactFiberTransition.new';
-import {pushTracingMarker} from './ReactFiberTracingMarkerComponent.new';
+import {
+  getTracingMarkers,
+  pushTracingMarker,
+} from './ReactFiberTracingMarkerComponent.new';
 
 const ReactCurrentOwner = ReactSharedInternals.ReactCurrentOwner;
 
@@ -891,6 +895,20 @@ function updateTracingMarkerComponent(
     return null;
   }
 
+  // TODO: (luna) Only update the tracing marker if it's newly rendered or it's name changed.
+  // A tracing marker is only associated with the transitions that rendered
+  // or updated it, so we can create a new set of transitions each time
+  if (current === null) {
+    const currentTransitions = getPendingTransitions();
+    if (currentTransitions !== null) {
+      const markerInstance: TracingMarkerInstance = {
+        transitions: new Set(currentTransitions),
+        pendingSuspenseBoundaries: new Map(),
+      };
+      workInProgress.stateNode = markerInstance;
+    }
+  }
+
   pushTracingMarker(workInProgress);
   const nextChildren = workInProgress.pendingProps.children;
   reconcileChildren(current, workInProgress, nextChildren, renderLanes);
@@ -2093,10 +2111,13 @@ function updateSuspenseComponent(current, workInProgress, renderLanes) {
       );
       workInProgress.memoizedState = SUSPENDED_MARKER;
       if (enableTransitionTracing) {
-        const currentTransitions = getSuspendedTransitions();
+        const currentTransitions = getPendingTransitions();
         if (currentTransitions !== null) {
+          // If there are no transitions, we don't need to keep track of tracing markers
+          const currentTracingMarkers = getTracingMarkers();
           const primaryChildUpdateQueue: OffscreenQueue = {
             transitions: currentTransitions,
+            tracingMarkers: currentTracingMarkers,
           };
           primaryChildFragment.updateQueue = primaryChildUpdateQueue;
         }
@@ -2177,10 +2198,12 @@ function updateSuspenseComponent(current, workInProgress, renderLanes) {
           ? mountSuspenseOffscreenState(renderLanes)
           : updateSuspenseOffscreenState(prevOffscreenState, renderLanes);
       if (enableTransitionTracing) {
-        const currentTransitions = getSuspendedTransitions();
+        const currentTransitions = getPendingTransitions();
         if (currentTransitions !== null) {
+          const currentTracingMarkers = getTracingMarkers();
           const primaryChildUpdateQueue: OffscreenQueue = {
             transitions: currentTransitions,
+            tracingMarkers: currentTracingMarkers,
           };
           primaryChildFragment.updateQueue = primaryChildUpdateQueue;
         }
diff --git a/packages/react-reconciler/src/ReactFiberBeginWork.old.js b/packages/react-reconciler/src/ReactFiberBeginWork.old.js
index 9bbaf40bd1adf..ca25b272e473f 100644
--- a/packages/react-reconciler/src/ReactFiberBeginWork.old.js
+++ b/packages/react-reconciler/src/ReactFiberBeginWork.old.js
@@ -35,6 +35,7 @@ import type {
 } from './ReactFiberCacheComponent.old';
 import type {UpdateQueue} from './ReactFiberClassUpdateQueue.old';
 import type {RootState} from './ReactFiberRoot.old';
+import type {TracingMarkerInstance} from './ReactFiberTracingMarkerComponent.old';
 import {
   enableSuspenseAvoidThisFallback,
   enableCPUSuspense,
@@ -255,9 +256,12 @@ import {
   getSuspendedCache,
   pushTransition,
   getOffscreenDeferredCache,
-  getSuspendedTransitions,
+  getPendingTransitions,
 } from './ReactFiberTransition.old';
-import {pushTracingMarker} from './ReactFiberTracingMarkerComponent.old';
+import {
+  getTracingMarkers,
+  pushTracingMarker,
+} from './ReactFiberTracingMarkerComponent.old';
 
 const ReactCurrentOwner = ReactSharedInternals.ReactCurrentOwner;
 
@@ -891,6 +895,20 @@ function updateTracingMarkerComponent(
     return null;
   }
 
+  // TODO: (luna) Only update the tracing marker if it's newly rendered or it's name changed.
+  // A tracing marker is only associated with the transitions that rendered
+  // or updated it, so we can create a new set of transitions each time
+  if (current === null) {
+    const currentTransitions = getPendingTransitions();
+    if (currentTransitions !== null) {
+      const markerInstance: TracingMarkerInstance = {
+        transitions: new Set(currentTransitions),
+        pendingSuspenseBoundaries: new Map(),
+      };
+      workInProgress.stateNode = markerInstance;
+    }
+  }
+
   pushTracingMarker(workInProgress);
   const nextChildren = workInProgress.pendingProps.children;
   reconcileChildren(current, workInProgress, nextChildren, renderLanes);
@@ -2093,10 +2111,13 @@ function updateSuspenseComponent(current, workInProgress, renderLanes) {
       );
       workInProgress.memoizedState = SUSPENDED_MARKER;
       if (enableTransitionTracing) {
-        const currentTransitions = getSuspendedTransitions();
+        const currentTransitions = getPendingTransitions();
         if (currentTransitions !== null) {
+          // If there are no transitions, we don't need to keep track of tracing markers
+          const currentTracingMarkers = getTracingMarkers();
           const primaryChildUpdateQueue: OffscreenQueue = {
             transitions: currentTransitions,
+            tracingMarkers: currentTracingMarkers,
           };
           primaryChildFragment.updateQueue = primaryChildUpdateQueue;
         }
@@ -2177,10 +2198,12 @@ function updateSuspenseComponent(current, workInProgress, renderLanes) {
           ? mountSuspenseOffscreenState(renderLanes)
           : updateSuspenseOffscreenState(prevOffscreenState, renderLanes);
       if (enableTransitionTracing) {
-        const currentTransitions = getSuspendedTransitions();
+        const currentTransitions = getPendingTransitions();
         if (currentTransitions !== null) {
+          const currentTracingMarkers = getTracingMarkers();
           const primaryChildUpdateQueue: OffscreenQueue = {
             transitions: currentTransitions,
+            tracingMarkers: currentTracingMarkers,
           };
           primaryChildFragment.updateQueue = primaryChildUpdateQueue;
         }
diff --git a/packages/react-reconciler/src/ReactFiberCommitWork.new.js b/packages/react-reconciler/src/ReactFiberCommitWork.new.js
index 6f983e8d249dd..da00d7761f9c5 100644
--- a/packages/react-reconciler/src/ReactFiberCommitWork.new.js
+++ b/packages/react-reconciler/src/ReactFiberCommitWork.new.js
@@ -138,6 +138,7 @@ import {
   restorePendingUpdaters,
   addTransitionStartCallbackToPendingTransition,
   addTransitionCompleteCallbackToPendingTransition,
+  addMarkerCompleteCallbackToPendingTransition,
   setIsRunningInsertionEffect,
 } from './ReactFiberWorkLoop.new';
 import {
@@ -2910,6 +2911,7 @@ function commitPassiveMountOnFiber(
               instance.transitions = prevTransitions = new Set();
             }
 
+            // TODO(luna): Combine the root code with the tracing marker code
             if (transitions !== null) {
               transitions.forEach(transition => {
                 // Add all the transitions saved in the update queue during
@@ -2931,6 +2933,23 @@ function commitPassiveMountOnFiber(
                 }
               });
             }
+
+            const tracingMarkers = queue.tracingMarkers;
+            if (tracingMarkers !== null) {
+              tracingMarkers.forEach(marker => {
+                const markerInstance = marker.stateNode;
+                // There should only be a few tracing marker transitions because
+                // they should be only associated with the transition that
+                // caused them
+                markerInstance.transitions.forEach(transition => {
+                  if (instance.transitions.has(transition)) {
+                    instance.pendingMarkers.add(
+                      markerInstance.pendingSuspenseBoundaries,
+                    );
+                  }
+                });
+              });
+            }
           }
 
           commitTransitionProgress(finishedWork);
@@ -2967,6 +2986,28 @@ function commitPassiveMountOnFiber(
       }
       break;
     }
+    case TracingMarkerComponent: {
+      if (enableTransitionTracing) {
+        // Get the transitions that were initiatized during the render
+        // and add a start transition callback for each of them
+        const instance = finishedWork.stateNode;
+        if (
+          instance.pendingSuspenseBoundaries === null ||
+          instance.pendingSuspenseBoundaries.size === 0
+        ) {
+          instance.transitions.forEach(transition => {
+            addMarkerCompleteCallbackToPendingTransition({
+              transitionName: transition.name,
+              startTime: transition.startTime,
+              markerName: finishedWork.memoizedProps.name,
+            });
+          });
+          instance.transitions = null;
+          instance.pendingSuspenseBoundaries = null;
+        }
+      }
+      break;
+    }
   }
 }
 
diff --git a/packages/react-reconciler/src/ReactFiberCommitWork.old.js b/packages/react-reconciler/src/ReactFiberCommitWork.old.js
index 147a25d74a807..677db2f10b0ea 100644
--- a/packages/react-reconciler/src/ReactFiberCommitWork.old.js
+++ b/packages/react-reconciler/src/ReactFiberCommitWork.old.js
@@ -138,6 +138,7 @@ import {
   restorePendingUpdaters,
   addTransitionStartCallbackToPendingTransition,
   addTransitionCompleteCallbackToPendingTransition,
+  addMarkerCompleteCallbackToPendingTransition,
   setIsRunningInsertionEffect,
 } from './ReactFiberWorkLoop.old';
 import {
@@ -2910,6 +2911,7 @@ function commitPassiveMountOnFiber(
               instance.transitions = prevTransitions = new Set();
             }
 
+            // TODO(luna): Combine the root code with the tracing marker code
             if (transitions !== null) {
               transitions.forEach(transition => {
                 // Add all the transitions saved in the update queue during
@@ -2931,6 +2933,23 @@ function commitPassiveMountOnFiber(
                 }
               });
             }
+
+            const tracingMarkers = queue.tracingMarkers;
+            if (tracingMarkers !== null) {
+              tracingMarkers.forEach(marker => {
+                const markerInstance = marker.stateNode;
+                // There should only be a few tracing marker transitions because
+                // they should be only associated with the transition that
+                // caused them
+                markerInstance.transitions.forEach(transition => {
+                  if (instance.transitions.has(transition)) {
+                    instance.pendingMarkers.add(
+                      markerInstance.pendingSuspenseBoundaries,
+                    );
+                  }
+                });
+              });
+            }
           }
 
           commitTransitionProgress(finishedWork);
@@ -2967,6 +2986,28 @@ function commitPassiveMountOnFiber(
       }
       break;
     }
+    case TracingMarkerComponent: {
+      if (enableTransitionTracing) {
+        // Get the transitions that were initiatized during the render
+        // and add a start transition callback for each of them
+        const instance = finishedWork.stateNode;
+        if (
+          instance.pendingSuspenseBoundaries === null ||
+          instance.pendingSuspenseBoundaries.size === 0
+        ) {
+          instance.transitions.forEach(transition => {
+            addMarkerCompleteCallbackToPendingTransition({
+              transitionName: transition.name,
+              startTime: transition.startTime,
+              markerName: finishedWork.memoizedProps.name,
+            });
+          });
+          instance.transitions = null;
+          instance.pendingSuspenseBoundaries = null;
+        }
+      }
+      break;
+    }
   }
 }
 
diff --git a/packages/react-reconciler/src/ReactFiberCompleteWork.new.js b/packages/react-reconciler/src/ReactFiberCompleteWork.new.js
index c5230bce92028..f6a54052f92d5 100644
--- a/packages/react-reconciler/src/ReactFiberCompleteWork.new.js
+++ b/packages/react-reconciler/src/ReactFiberCompleteWork.new.js
@@ -1581,9 +1581,18 @@ function completeWork(
     }
     case TracingMarkerComponent: {
       if (enableTransitionTracing) {
-        // Bubble subtree flags before so we can set the flag property
         popTracingMarker(workInProgress);
         bubbleProperties(workInProgress);
+
+        if (
+          current === null ||
+          (workInProgress.subtreeFlags & Visibility) !== NoFlags
+        ) {
+          // If any of our suspense children toggle visibility, this means that
+          // the pending boundaries array needs to be updated, which we only
+          // do in the passive phase.
+          workInProgress.flags |= Passive;
+        }
       }
       return null;
     }
diff --git a/packages/react-reconciler/src/ReactFiberCompleteWork.old.js b/packages/react-reconciler/src/ReactFiberCompleteWork.old.js
index 4dbc447dd989a..b99d3451d3324 100644
--- a/packages/react-reconciler/src/ReactFiberCompleteWork.old.js
+++ b/packages/react-reconciler/src/ReactFiberCompleteWork.old.js
@@ -1581,9 +1581,18 @@ function completeWork(
     }
     case TracingMarkerComponent: {
       if (enableTransitionTracing) {
-        // Bubble subtree flags before so we can set the flag property
         popTracingMarker(workInProgress);
         bubbleProperties(workInProgress);
+
+        if (
+          current === null ||
+          (workInProgress.subtreeFlags & Visibility) !== NoFlags
+        ) {
+          // If any of our suspense children toggle visibility, this means that
+          // the pending boundaries array needs to be updated, which we only
+          // do in the passive phase.
+          workInProgress.flags |= Passive;
+        }
       }
       return null;
     }
diff --git a/packages/react-reconciler/src/ReactFiberOffscreenComponent.js b/packages/react-reconciler/src/ReactFiberOffscreenComponent.js
index 3f5ef38424d7b..00904d9fdd8ed 100644
--- a/packages/react-reconciler/src/ReactFiberOffscreenComponent.js
+++ b/packages/react-reconciler/src/ReactFiberOffscreenComponent.js
@@ -8,6 +8,7 @@
  */
 
 import type {ReactNodeList, OffscreenMode} from 'shared/ReactTypes';
+import type {Fiber} from './ReactInternalTypes';
 import type {Lanes} from './ReactFiberLane.old';
 import type {SpawnedCachePool} from './ReactFiberCacheComponent.new';
 import type {
@@ -38,6 +39,7 @@ export type OffscreenState = {|
 
 export type OffscreenQueue = {|
   transitions: Array<Transition> | null,
+  tracingMarkers: Array<Fiber> | null,
 |} | null;
 
 export type OffscreenInstance = {|
diff --git a/packages/react-reconciler/src/ReactFiberTracingMarkerComponent.new.js b/packages/react-reconciler/src/ReactFiberTracingMarkerComponent.new.js
index 593ebfc2d7da3..3a136cda686fd 100644
--- a/packages/react-reconciler/src/ReactFiberTracingMarkerComponent.new.js
+++ b/packages/react-reconciler/src/ReactFiberTracingMarkerComponent.new.js
@@ -39,6 +39,11 @@ export type BatchConfigTransition = {
   _updatedFibers?: Set<Fiber>,
 };
 
+export type TracingMarkerInstance = {|
+  pendingSuspenseBoundaries: PendingSuspenseBoundaries | null,
+  transitions: Set<Transition> | null,
+|} | null;
+
 export type PendingSuspenseBoundaries = Map<OffscreenInstance, SuspenseInfo>;
 
 export function processTransitionCallbacks(
diff --git a/packages/react-reconciler/src/ReactFiberTracingMarkerComponent.old.js b/packages/react-reconciler/src/ReactFiberTracingMarkerComponent.old.js
index a632af8e1cb91..5f119b3a4b66a 100644
--- a/packages/react-reconciler/src/ReactFiberTracingMarkerComponent.old.js
+++ b/packages/react-reconciler/src/ReactFiberTracingMarkerComponent.old.js
@@ -39,6 +39,11 @@ export type BatchConfigTransition = {
   _updatedFibers?: Set<Fiber>,
 };
 
+export type TracingMarkerInstance = {|
+  pendingSuspenseBoundaries: PendingSuspenseBoundaries | null,
+  transitions: Set<Transition> | null,
+|} | null;
+
 export type PendingSuspenseBoundaries = Map<OffscreenInstance, SuspenseInfo>;
 
 export function processTransitionCallbacks(
diff --git a/packages/react-reconciler/src/ReactFiberTransition.new.js b/packages/react-reconciler/src/ReactFiberTransition.new.js
index bb5f5d93d2026..527cb89877f62 100644
--- a/packages/react-reconciler/src/ReactFiberTransition.new.js
+++ b/packages/react-reconciler/src/ReactFiberTransition.new.js
@@ -149,7 +149,7 @@ export function popTransition(workInProgress: Fiber, current: Fiber | null) {
   }
 }
 
-export function getSuspendedTransitions(): Array<Transition> | null {
+export function getPendingTransitions(): Array<Transition> | null {
   if (!enableTransitionTracing) {
     return null;
   }
diff --git a/packages/react-reconciler/src/ReactFiberTransition.old.js b/packages/react-reconciler/src/ReactFiberTransition.old.js
index 1abb0e2180ab5..8323559d58f8b 100644
--- a/packages/react-reconciler/src/ReactFiberTransition.old.js
+++ b/packages/react-reconciler/src/ReactFiberTransition.old.js
@@ -149,7 +149,7 @@ export function popTransition(workInProgress: Fiber, current: Fiber | null) {
   }
 }
 
-export function getSuspendedTransitions(): Array<Transition> | null {
+export function getPendingTransitions(): Array<Transition> | null {
   if (!enableTransitionTracing) {
     return null;
   }
diff --git a/packages/react-reconciler/src/__tests__/ReactTransitionTracing-test.js b/packages/react-reconciler/src/__tests__/ReactTransitionTracing-test.js
index 9f5648b85b539..2fd5a3633e426 100644
--- a/packages/react-reconciler/src/__tests__/ReactTransitionTracing-test.js
+++ b/packages/react-reconciler/src/__tests__/ReactTransitionTracing-test.js
@@ -477,4 +477,365 @@ describe('ReactInteractionTracing', () => {
       ]);
     });
   });
+
+  // @gate enableTransitionTracing
+  it('should correctly trace interactions for tracing markers complete', async () => {
+    const transitionCallbacks = {
+      onTransitionStart: (name, startTime) => {
+        Scheduler.unstable_yieldValue(
+          `onTransitionStart(${name}, ${startTime})`,
+        );
+      },
+      onTransitionComplete: (name, startTime, endTime) => {
+        Scheduler.unstable_yieldValue(
+          `onTransitionComplete(${name}, ${startTime}, ${endTime})`,
+        );
+      },
+      onMarkerComplete: (transitioName, markerName, startTime, endTime) => {
+        Scheduler.unstable_yieldValue(
+          `onMarkerComplete(${transitioName}, ${markerName}, ${startTime}, ${endTime})`,
+        );
+      },
+    };
+    let navigateToPageTwo;
+    function App() {
+      const [navigate, setNavigate] = useState(false);
+      navigateToPageTwo = () => {
+        setNavigate(true);
+      };
+
+      return (
+        <div>
+          {navigate ? (
+            <Suspense
+              fallback={<Text text="Loading..." />}
+              name="suspense page">
+              <AsyncText text="Page Two" />
+              <React.unstable_TracingMarker name="sync marker" />
+              <React.unstable_TracingMarker name="async marker">
+                <Suspense
+                  fallback={<Text text="Loading..." />}
+                  name="marker suspense">
+                  <AsyncText text="Marker Text" />
+                </Suspense>
+              </React.unstable_TracingMarker>
+            </Suspense>
+          ) : (
+            <Text text="Page One" />
+          )}
+        </div>
+      );
+    }
+
+    const root = ReactNoop.createRoot({transitionCallbacks});
+    await act(async () => {
+      root.render(<App />);
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+
+      expect(Scheduler).toFlushAndYield(['Page One']);
+    });
+
+    await act(async () => {
+      startTransition(() => navigateToPageTwo(), {name: 'page transition'});
+
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+
+      expect(Scheduler).toFlushAndYield([
+        'Suspend [Page Two]',
+        'Suspend [Marker Text]',
+        'Loading...',
+        'Loading...',
+        'onTransitionStart(page transition, 1000)',
+      ]);
+
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+      await resolveText('Page Two');
+
+      expect(Scheduler).toFlushAndYield([
+        'Page Two',
+        'Suspend [Marker Text]',
+        'Loading...',
+        'onMarkerComplete(page transition, sync marker, 1000, 3000)',
+      ]);
+
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+      await resolveText('Marker Text');
+
+      expect(Scheduler).toFlushAndYield([
+        'Marker Text',
+        'onMarkerComplete(page transition, async marker, 1000, 4000)',
+        'onTransitionComplete(page transition, 1000, 4000)',
+      ]);
+    });
+  });
+
+  // @gate enableTransitionTracing
+  it('trace interaction with multiple tracing markers', async () => {
+    const transitionCallbacks = {
+      onTransitionStart: (name, startTime) => {
+        Scheduler.unstable_yieldValue(
+          `onTransitionStart(${name}, ${startTime})`,
+        );
+      },
+      onTransitionComplete: (name, startTime, endTime) => {
+        Scheduler.unstable_yieldValue(
+          `onTransitionComplete(${name}, ${startTime}, ${endTime})`,
+        );
+      },
+      onMarkerComplete: (transitioName, markerName, startTime, endTime) => {
+        Scheduler.unstable_yieldValue(
+          `onMarkerComplete(${transitioName}, ${markerName}, ${startTime}, ${endTime})`,
+        );
+      },
+    };
+
+    let navigateToPageTwo;
+    function App() {
+      const [navigate, setNavigate] = useState(false);
+      navigateToPageTwo = () => {
+        setNavigate(true);
+      };
+
+      return (
+        <div>
+          {navigate ? (
+            <React.unstable_TracingMarker name="outer marker">
+              <Suspense fallback={<Text text="Outer..." />}>
+                <AsyncText text="Outer Text" />
+                <Suspense fallback={<Text text="Inner One..." />}>
+                  <React.unstable_TracingMarker name="marker one">
+                    <AsyncText text="Inner Text One" />
+                  </React.unstable_TracingMarker>
+                </Suspense>
+                <Suspense fallback={<Text text="Inner Two..." />}>
+                  <React.unstable_TracingMarker name="marker two">
+                    <AsyncText text="Inner Text Two" />
+                  </React.unstable_TracingMarker>
+                </Suspense>
+              </Suspense>
+            </React.unstable_TracingMarker>
+          ) : (
+            <Text text="Page One" />
+          )}
+        </div>
+      );
+    }
+
+    const root = ReactNoop.createRoot({transitionCallbacks});
+    await act(async () => {
+      root.render(<App />);
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+
+      expect(Scheduler).toFlushAndYield(['Page One']);
+    });
+
+    await act(async () => {
+      startTransition(() => navigateToPageTwo(), {name: 'page transition'});
+
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+
+      expect(Scheduler).toFlushAndYield([
+        'Suspend [Outer Text]',
+        'Suspend [Inner Text One]',
+        'Inner One...',
+        'Suspend [Inner Text Two]',
+        'Inner Two...',
+        'Outer...',
+        'onTransitionStart(page transition, 1000)',
+      ]);
+
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+      await resolveText('Inner Text Two');
+      expect(Scheduler).toFlushAndYield([]);
+
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+      await resolveText('Outer Text');
+      expect(Scheduler).toFlushAndYield([
+        'Outer Text',
+        'Suspend [Inner Text One]',
+        'Inner One...',
+        'Inner Text Two',
+        'onMarkerComplete(page transition, marker two, 1000, 4000)',
+      ]);
+
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+      await resolveText('Inner Text One');
+      expect(Scheduler).toFlushAndYield([
+        'Inner Text One',
+        'onMarkerComplete(page transition, marker one, 1000, 5000)',
+        'onMarkerComplete(page transition, outer marker, 1000, 5000)',
+        'onTransitionComplete(page transition, 1000, 5000)',
+      ]);
+    });
+  });
+
+  // @gate enableTransitionTracing
+  it.skip('marker interaction cancelled when name changes', async () => {
+    const transitionCallbacks = {
+      onTransitionStart: (name, startTime) => {
+        Scheduler.unstable_yieldValue(
+          `onTransitionStart(${name}, ${startTime})`,
+        );
+      },
+      onTransitionComplete: (name, startTime, endTime) => {
+        Scheduler.unstable_yieldValue(
+          `onTransitionComplete(${name}, ${startTime}, ${endTime})`,
+        );
+      },
+      onMarkerComplete: (transitioName, markerName, startTime, endTime) => {
+        Scheduler.unstable_yieldValue(
+          `onMarkerComplete(${transitioName}, ${markerName}, ${startTime}, ${endTime})`,
+        );
+      },
+    };
+
+    let navigateToPageTwo;
+    let setMarkerNameFn;
+    function App() {
+      const [navigate, setNavigate] = useState(false);
+      navigateToPageTwo = () => {
+        setNavigate(true);
+      };
+
+      const [markerName, setMarkerName] = useState('old marker');
+      setMarkerNameFn = () => setMarkerName('new marker');
+
+      return (
+        <div>
+          {navigate ? (
+            <React.unstable_TracingMarker name={markerName}>
+              <Suspense fallback={<Text text="Loading..." />}>
+                <AsyncText text="Page Two" />
+              </Suspense>
+            </React.unstable_TracingMarker>
+          ) : (
+            <Text text="Page One" />
+          )}
+        </div>
+      );
+    }
+
+    const root = ReactNoop.createRoot({transitionCallbacks});
+    await act(async () => {
+      root.render(<App />);
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+
+      expect(Scheduler).toFlushAndYield(['Page One']);
+
+      startTransition(() => navigateToPageTwo(), {name: 'page transition'});
+      expect(Scheduler).toFlushAndYield([
+        'Suspend [Page Two]',
+        'Loading...',
+        'onTransitionStart(page transition, 1000)',
+      ]);
+
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+      setMarkerNameFn();
+
+      expect(Scheduler).toFlushAndYield(['Suspend [Page Two]', 'Loading...']);
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+      resolveText('Page Two');
+
+      // Marker complete is not called because the marker name changed
+      expect(Scheduler).toFlushAndYield([
+        'Page Two',
+        'onTransitionComplete(page transition, 1000, 3000)',
+      ]);
+    });
+  });
+
+  // @gate enableTransitionTracing
+  it.skip('marker changes to new interaction when name changes', async () => {
+    const transitionCallbacks = {
+      onTransitionStart: (name, startTime) => {
+        Scheduler.unstable_yieldValue(
+          `onTransitionStart(${name}, ${startTime})`,
+        );
+      },
+      onTransitionComplete: (name, startTime, endTime) => {
+        Scheduler.unstable_yieldValue(
+          `onTransitionComplete(${name}, ${startTime}, ${endTime})`,
+        );
+      },
+      onMarkerComplete: (transitioName, markerName, startTime, endTime) => {
+        Scheduler.unstable_yieldValue(
+          `onMarkerComplete(${transitioName}, ${markerName}, ${startTime}, ${endTime})`,
+        );
+      },
+    };
+
+    let navigateToPageTwo;
+    let setMarkerNameFn;
+    function App() {
+      const [navigate, setNavigate] = useState(false);
+      navigateToPageTwo = () => {
+        setNavigate(true);
+      };
+
+      const [markerName, setMarkerName] = useState('old marker');
+      setMarkerNameFn = () => setMarkerName('new marker');
+
+      return (
+        <div>
+          {navigate ? (
+            <React.unstable_TracingMarker name={markerName}>
+              <Suspense fallback={<Text text="Loading..." />}>
+                <AsyncText text="Page Two" />
+              </Suspense>
+            </React.unstable_TracingMarker>
+          ) : (
+            <Text text="Page One" />
+          )}
+        </div>
+      );
+    }
+
+    const root = ReactNoop.createRoot({transitionCallbacks});
+    await act(async () => {
+      root.render(<App />);
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+
+      expect(Scheduler).toFlushAndYield(['Page One']);
+
+      startTransition(() => navigateToPageTwo(), {name: 'page transition'});
+      expect(Scheduler).toFlushAndYield([
+        'Suspend [Page Two]',
+        'Loading...',
+        'onTransitionStart(page transition, 1000)',
+      ]);
+
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+      startTransition(() => setMarkerNameFn(), {name: 'marker transition'});
+
+      expect(Scheduler).toFlushAndYield([
+        'Suspend [Page Two]',
+        'Loading...',
+        'onTransitionStart(marker transition, 2000)',
+      ]);
+      ReactNoop.expire(1000);
+      await advanceTimers(1000);
+      resolveText('Page Two');
+
+      // Marker complete is not called because the marker name changed
+      expect(Scheduler).toFlushAndYield([
+        'Page Two',
+        'onMarkerComplete(new marker, 2000, 3000)',
+        'onTransitionComplete(page transition, 1000, 3000)',
+      ]);
+    });
+  });
 });