Stocks tumble as Trump urges US companies out of China
Stocks fell to their lows of the day Friday after President Donald Trump ordered in a series tweets that U.S. companies find alternatives to their operations in China. Apple led the way lower.
The Dow dropped more than 400 points as the S&P 500 and Nasdaq slid 1.7% and 2%, respectively.
Trump tweeted on Friday: “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.”
“The threats always been out there but there’s been no need to provoke that,” said Art Hogan, chief market strategist at National Securities. “It’s almost like the administration was expecting the Fed to announce a rate cut at the Jackson hole meeting. And since Powell did not deliver, he went to defcon 5.”
https://www.msn.com/en-us/money/markets/stocks-tumble-as-trump-urges-us-companies-out-of-china/ar-AAGaqiF?li=BBnbfcN
When Trump said he could only he could fix it they didn't realize he meant neuter it.
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