Trump tweets on China tariffs throw global markets into a tailspin

[demmiblue]

Source: NBC

Global markets plunged overnight after crucial trade talks with China appeared to collapse, renewing fears of an all-out trade war between the world's two largest economies.

Futures on the Dow Jones Industrial Average fell by over 500 points in premarket trading early Monday, with the S&P 500 and Nasdaq each sliding by 2 percent before markets opened. Chinese markets tanked by 6 percent.

The market turmoil began Sunday after President Donald Trump slammed China in a surprise early morning tweet that said he would slap tariffs on almost all imported goods starting Friday.

"The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!" Trump tweeted. "The 10% will go up to 25% on Friday. 325 Billions Dollars....of additional goods sent to us by China remain untaxed, but will be shortly, at a rate of 25%."

Read more: https://www.nbcnews.com/business/economy/trump-tweet-china-tariffs-throws-global-markets-tailspin-n1002261?cid=sm_npd_nn_tw_ma

[Blue_Tires]

1. Hey Lou Dobbs -- Come defend your boy, because he's a hot mess

[riversedge]

2. Dow on pace for sharpest drop in 6 weeks as Trump ignites China trade-war fears

Dow on pace for sharpest drop in 6 weeks as Trump ignites China trade-war fears

https://www.marketwatch.com/story/us-stock-futures-sink-as-threat-of-full-blown-trade-war-re-emerges-2019-05-06?mod=MW_story_top_stories

Published: May 6, 2019 10:57 a.m. ET



U.S. stocks were off their lows but maintaining sharp declines Monday morning after President Donald Trump threatened over the weekend to increase tariffs on $200 billion of Chinese goods, raising fresh fears about a market-disruptive clash between the world’s largest economies.


The Dow Jones Industrial Average DJIA, -0.90% was down 250 points, or 1.3%, at 26,166, the S&P 500 index SPX, -0.93% declined 35 points, or 1.2%, to 2,910, while the Nasdaq Composite Index COMP, -1.02% retreated 105 points, or 1.3%, to 8,059.

The Dow, and the broader market, dipped very briefly below apparent technical support at the 50-day moving average at the open, before bouncing back. Moving averages tend to be viewed as bullish and bearish demarcation points for technical analyst.

The declines, if they hold, would be the sharpest for the three major benchmarks since March 22, according to FactSet data. On Friday, the Nasdaq closed at a record, while the S&P 500 narrowly missed finishing at its own.
What’s driving the market?

[Flaleftist]

3. Trump probably has peope placing short sales before these tweets.

[Turbineguy]

4. Wait a minute.....

I thought when the markets go up it's because of Trump's stable genius and when they go down it's Obama's fault.

[Haggis for Breakfast]

5. Can't we just ask the Secret Service to break his fucking thumbs ?