Wall Street is nervous about a trade war: Dow sinks 500 points

[DonViejo]

Source: CNN-Money



by Matt Egan @MattEganCNN
March 22, 2018: 12:03 PM ET

The Dow dropped more than 500 points, or 2%, on Thursday, underlining growing concerns among investors about looming tariffs on China. The S&P 500 and Nasdaq lost nearly 2% apiece.

"A global trade war, whether it's real or perceived, is what's weighing on the market," said Ian Winer, head of equities at Wedbush Securities. "There's this huge uncertainty now. If China decides to get tough on agriculture or anything else, that will really spook people."

Trump is expected to announce up to $60 billion worth of tariffs on China on Thursday afternoon. It's not clear which products will be hit, but the action is aimed at curbing China's troubling theft of US intellectual property.

China wasted little time in threatening to retaliate against the United States, underlining the risk of a tit-for-tat escalation that hurts global trade.

Read more: http://money.cnn.com/2018/03/22/investing/dow-jones-trade-war-china/index.html

[MyOwnPeace]

1. Yet again..............

MORE outstanding leadership from this "BUSINESS MAN" who is supposed to know how to "MAGA!"

[njhoneybadger]

2. Dive

[bucolic_frolic]

3. Winning is when you pay more for what you want!

MAGA! Pay up!

[still_one]

4. The market seemed to ignore it yesterday, now they are realizing it is very real, and China has

said they will retaliate

You don't negotiate trade agreements the way the idiots in the WH are doing, and with the North Korean talks supposedly coming up, where China has played an important role, it is going to be interesting just how that develops

This will not have the desired effect they think, and add the steel and Aluminum tariffs on top of this, which China does NOT import a lot of, what we may very well have is increased costs to consumers from food, automobiles, transportation, etc. to jobs actually being lost as a result of this bull in a China factory move

Ironically, it will be a lot of the red states that would feel the brunt of any retaliation from this

[Yavin4]

6. The market has been whistling past the Trump graveyard for over a year now

They know that there's a reckless imbecile in the White House, but they cling to the notion that reasonable people around him will keep him check while they gorge on tax cuts and de-regulation.

But reality is slowly creeping in to these folks. When there's an incompetent person at the helm of the ship, odds are not good for survival.

[still_one]

7. That is true Yavin, they have been rationalizing that cooler heads will prevail, but with all the

firings, I wouldn't bet on it

[Javaman]

5. what truly amazes me about all of this is...

the tRump branded crap he sells, is made in CHINA!

The steel he uses to build his slum hotels is imported from CHINA!

there has to be something else going on here that he's working to his own selfish advantage.


orrrrrrr......

he's just that fucking stupid for many many reasons.

more over, this tariff is going to fuck this country so hard.

this will screw so many industries.

and if the orange asshole thinks it's just a matter of "ramping up U.S. production", that notion will quickly be dispelled when he realizes that "those industries" had left the U.S. a very long time ago. we will be starting from scratch in so many areas again and the cost to do that will dwarf this tariff by a huge magnitude.

[OAITW r.2.0]

8. Who benefits? Putin

I really don't see any other reason than Trump got his orders to unilaterally start this action. The US economy will tank because companies can't scale up manufacturing quick enough, nor are they willing to invest in new factories here, should these tarriffs be taken down by Congress in the future.

Trump needs a diversion, but even he probably wouldn't have created this disaster unless his master in Moscow demanded it.

[raccoon]

9. Thanks, Dotard. nt

[nitpicker]

10. Final US numbers for 22 March

Dow 23957 -724
NASDAQ 7156 -178
S&P 2643 -68