Dow futures plummet 400 points after Trump renews tariff threat on China

[RandySF]

New York (CNN Business)Last week US stocks hit record highs, but President Donald Trump on Sunday reminded investors of the fear that dominated Wall Street throughout much of last year.

Trump renewed threats to raise tariffs on Chinese goods, sending Dow futures down more than 400 points Sunday evening. The broader S&P 500 was set to open Monday down 1.4%. Nasdaq futures were down 1.5%.
The Nasdaq includes a large number of technology stocks that could be hit particularly hard by higher tariffs on Chinese products.

A grim opening for US stocks Monday would follow a week of record-highs. The Nasdaq closed at a high of 8,164 Friday, and the S&P 500 was near its all-time high set earlier in the week. The Dow had been closing in on its all-time high set in October.

President Trump warned he would consider increasing tariffs on a $200 billion of Chinese goods to 25% from the current 10%, reactivating a threat he removed months ago.


https://www.cnn.com/2019/05/05/media/stocks-trump-tariff-threat/index.html

[spanone]

1. -531

Last edited Sun May 5, 2019, 09:23 PM - Edit history (2)

[BigmanPigman]

2. This will be an interesting week on the markets.

Of course Bannon and the fucking moron will say what they always say, "The American voter will understand that they will hurt a little now but will benefit bigly in several years". The farmers and other industries effected so far are not "being understanding" from the last round of tariffs.