Stock futures plunge, with the Dow set for a nearly 500 point drop, after China announces tariffs

[brooklynite]

Source: CNBC

U.S. stock index futures tumbled ahead of Wednesday's open, as concerns over a potential trade war between the U.S. and China intensified.

Around 7:30 a.m. ET, Dow Jones industrial average futures indicated a drop of 460 points at the start of trading in New York. The Nasdaq 100 and the S&P 500 futures also indicated heavy losses at the open for their respective markets.

The moves in premarket trade come as China announced brand-new tariffs on 106 U.S. products, including cars, whiskey, aerospace and defense, and soybeans.

"I think the market is just concerned about this thing escalating right now," James Paulsen, chief investment strategist at The Leuthold Group, told CNBC's "Squawk Box." "It's not so bad if we have a few tariffs on a few products, but if it escalates worldwide, … then you're really threatening the recovery globally."



Read more: https://www.cnbc.com/2018/04/04/us-stock-futures-dow-data-trade-tech-and-politics-in-focus.html

[dlk]

1. Historically, the Stock Market Does Better When a Democrat is in the White House

How did Republicans ever get their reputation for being so much better in business? The facts state otherwise. It all goes back to messaging--Republicans beat Democrats, hand down.

[Dave Starsky]

5. Constant lies and bullshit.

Bolstered 24/7 by our worthless corporate-owned media.

The same way they became the party of "family values". What a fucking joke that is and has always been.

[Johnny2X2X]

2. Buckle up

This is posturing from the US and China who both are looking to strengthen their negotiating positions and show strength to the other side. It's going to be a bumpy ride. If negotiations fail, the Trade War is on. China is more prepared to go the distance in this IMO and will likely win the negotiations. Trump will get a couple minor concessions from China and claim a massive victory, he has too much to lose if he doesn't get a deal.

This is all really totally unnecessary. We could work on a better deal without putting the World economy in jeopardy.

Be very very careful, Trump is using dictator tactics again here. He wants to create an unnecessary crisis for the world so he can play the hero by averting it. The only problem is that China likely sees through all of it and is willing to call his bluff and go the distance.

[Achilleaze]

3. Dirty Donny* & republican cronies are pissing on America's economy

sick and sad.


* aka republican Draft-Dodger-in-Chief

[forgotmylogin]

4. "Monkey Wrench" Donald thinks he's a business sooooper-genius

He thinks he's going to fix things. "NATO NEEDS TO MAKE PAYMENTS" "FOREIGN PRODUCTS NEED MORE TARIFFS"

I suspect he's going to find out there's a reason previous Presidents haven't "fixed" the economy using his "so easy" methods.

[scarytomcat]

6. Dow Jones went up 245 point or so today 4/4

the market is fluctuating but generally moving higher
the market has never been a good indicator of the strength of the economy
debit will be what puts the brakes on, government and personal
we can not continue to add debit

[uncle ray]

7. the market has been generally moving DOWN since the volatility started in Jan. n/t.

[former9thward]

8. Dow futures which started the OP are a horrible predictor of daily Dow changes.

[scarytomcat]

9. What was the Dow at in Jan and what is it now?

my spot checking has looked like more up than down
but if you have the numbers I will go with it

[scarytomcat]

10. April 6 2017 Dow was at 20,662 today Dow is 24,264

the high was Jan 26 it was 26,616