US stocks fall; S&P 500 heads for 2nd straight weekly loss
Source: Associated Press
Alex Veiga, Ap Business Writer
Updated 1:17 pm CDT, Friday, September 27, 2019
Technology companies led a broad slide in stocks on Wall Street Friday afternoon as investors worry about the potential for another escalation in the trade war between the U.S. and China.
The selling followed a report by Bloomberg saying that the Trump administration is considering ways to limit U.S. investors' portfolio flows into China. The report cited unnamed persons familiar with the administration's internal discussions.
The prospect of another ramp-up in the trade conflict dampened investors' already cautious optimism that the world's two biggest economies might make progress as their representatives resume negotiations next month. Uncertainty over the costly and long-running trade war has fueled volatility in the market and stoked worries that the impact of tariffs and other tactics employed by the countries against each other is hampering U.S. economic and corporate profit growth.
Technology stocks, which are particularly sensitive to swings in the trade conflict, accounted for much of the selling. Microsoft slid 1.4% and Adobe dropped 2.9%. Micron Technology led the sector's slide after the chipmaker issued a weak profit forecast and a sales warning, citing the trade war.
Read more: https://www.chron.com/news/us/article/Indexes-head-sideways-as-weakness-in-tech-offsets-14472658.php
sandensea
(21,604 posts)Can you imagine if this were happening under Hillary or any other Democrat?
Faux News would be howling about "another Democrat disaster!"
Brainfodder
(6,423 posts)NurseJackie
(42,862 posts)louis-t
(23,273 posts)Just wait.
OnlinePoker
(5,719 posts)He then said if interest rates go up, even a little bit that will come crashing down. After the election, the federal funds rate went up by 2% over the next two years and stocks continued to soar. All of a sudden he's claiming it is up because of him. Now he's saying negative interest rates wouldn't be a bad thing and you can bet if a recession hits and stocks crash, he will blame it on that (and what a terrible economy Obama left him).
bucolic_frolic
(43,064 posts)That is de facto capital control, the hallmark of failing economies with high inflation or political instability. You have to smuggle your money out of those places. They can't be serious!
Trump will play this China ON-OFF switch until September 2020 when he announces total removal of tariffs and stocks shoot up. All for the election. Meanwhile just play China long, China short.
IronLionZion
(45,380 posts)are working out so well people got tired of winning. Maybe when Mexico pays for the wall things will get better.
He'll blame it all on Pelosi for the impeachment inquiry.
The NY Fed has pledge to pump $75 billion into the overnight repo market every day for the next 2 weeks, since things are going so well they need daily stimulus.
progree
(10,894 posts)About the great 401k's you've been hearing about from the MAGAts -- the stock market has stalled over the last 20 months
up just 3.1% since 1/26/2018, 20 months ago (a 1.85% annualized rate), and that journey has been one with harrowing roller coaster ups and downs.
S&P 500 (much more representative of the U.S. stock market and what people own than the Dow 30)
2873 1/26/2018 close
2962 9/27/2019 close
+3.10% (1.85% annualized rate)
and right now we're basically in an "up bump" phase in the Trump market cycles with yet another trade truce with China, despite today's story about the Trump admin looking at ways to delist Chinese stocks https://www.marketwatch.com/story/heres-what-investors-need-to-know-about-white-house-talks-to-limit-portfolio-inflows-into-china-2019-09-27
The great "Trump" record up to 1/26/2018 (one year and 6 days since Inauguration Day) was of course, a continuation of the Obama boom, and before all the Trump trade war garbage started, and before the TCJA Trump Tax Cuts for the Corporados took effect.