U.S. stocks slump after Cohn's resignation fuels uncertainty about Trump economic agenda

[workinclasszero]

U.S. stocks slump after Cohn’s resignation fuels uncertainty about Trump economic agenda
Published: Mar 7, 2018 11:52 a.m. ET

U.S. stocks traded lower Wednesday, as the resignation of Gary Cohn, the head of President Donald Trump’s National Economic Council sparked a selloff in risky assets such as equities.

Concerns about the prospect of a global trade war, prompted by Trump’s plan to introduce tariffs on steel and aluminum imports, intensified, as Cohn had opposed the tariff proposal and was widely viewed as having a moderating influence within the White House.

https://www.marketwatch.com/story/dow-set-for-300-point-drop-after-cohns-exit-2018-03-07

[50 Shades Of Blue]

1. Thanks, Trump!

[workinclasszero]

2. He claimed the (Obama's) stock market as his on the way up

So Shitler can claim the trade war market (his!) on the way down too!

[PoindexterOglethorpe]

3. Do keep in mind that the decline is just over

one percent, at this point. And that's at 277 points.

A 3,000 point drop would be something to worry about.

[workinclasszero]

4. Trump has yet to land the first blow

Trade war is coming soon along with massive price inflation for American consumers.

[PoindexterOglethorpe]

5. That's assuming he actually engages in a full on trade war.

I suspect that won't really happen.

And ever since November 8, 2016, people here (and elsewhere I'm sure) have been predicting a massive crash in the stock market. I believe some DUers even got completely out, anticipating the crash.

The market is long overdue for an actual correction, and certainly some terrible crash could occur. Me? I'm going to stay invested as I did through the dot com boom and bust and the 2008 downturn. My investments are doing better than ever. They're down about 3% from their all-time high at the beginning of this year. Not a number that has me worried.

[workinclasszero]

6. It appears Ryan and the republican Congress

are going to try to stop Shitlers trade war so yeah who knows?

I don't get why he doesn't go after China over steel. The EU steel output is nothing compared to China I read.

I guess Twitler just hates those successful functioning democracies soooo much.

He always takes the side of dictators. Go figure.

[PoindexterOglethorpe]

7. I keep on reading that we get only 2% of our steel from China.

They are apparently dumping their steel elsewhere, not here. According to Wikipedia this country is the world's third largest maker of raw steel, behind China and Japan. A bit of research seems to show we export a lot of our steel, also. I may have misunderstood what I just took a quick look at, so if you know I'm wrong, do set me straight.