Dow drops nearly 400 points. Trade war fears just won't go away

[riversedge]

Source: Cnn




Updated 5:41 PM ET, Mon August 12, 2019


New York (CNN Business)Wall Street's trade war anxiety isn't going away.

The Dow dropped 391 points, or 1.5%, on Monday afternoon. The S&P 500 and Nasdaq lost 1.2% apiece. Treasury bond yields once again fell sharply as investors piled into safe assets.

The turmoil comes as investors brace for the US-China trade war to deal more damage to the global economy. The risk is that the tit-for-tat tariff battle between the world's two largest economies could turn the economic slowdown into a recession.

"The ongoing trade dispute between the US and China appears to have escalated into a full-blown economic conflict," David Kostin, chief US equity strategist at Goldman Sachs, wrote in a note to clients.

China-sensitive stocks including Caterpillar (CAT), Deere (DE) and Boeing (BA) all declined more than 1%.
Goldman Sachs raised its estimate of how much the trade war will hurt the economy. The firm now expects fourth-quarter US growth to slow to 1.8%, compared with 2% previously.

Read more: https://www.cnn.com/2019/08/12/investing/stock-market-today-dow-jones-trade-war/index.html

[Auggie]

1. Anxiety? I don't belive that bullshit. Short sellers, manipulating the market, that I believe ...

The Trump crime organization. Hedge funds. Wall Street. International oligarchs.

[old guy]

2. Yup.

[customerserviceguy]

8. A lot of gambling, to be sure

but the whole system is built on selling cheap Chinese crap to consumers who actually used to make the goods themselves. We're reduced to being a service-only economy, if you're lucky enough to find a job doing that.

[Auggie]

10. Gambling assumes some risk is involved ...

there’s no risk when Don the Con manipulates markets just by farting.

[Hugin]

3. The Trade War sure is keeping Mnuchin's PPT busy.

They're burning through the Treasury at a prodigious rate to keep up the appearance of a "Best Economy Ever".

[Farmer-Rick]

4. Ah be best economy

What a shame the Koch brothers and Waltons wasted their money on supporting Traitor Trump and his Slovenian sex worker, only to get sinking stocks and lousy Trump wars.

[paleotn]

5. That's because the trade war won't go away....

because the orange shit stain won't go away. I have thought corporate America would have slit his political throat by now. The tax cuts simply aren't worth this crap.

[bucolic_frolic]

6. The US budget deficits aren't helping

at what $880 billion over 10 months?

Feels like 2008 all over again.

Markets overvalued after years of QE1-2-3. We've had ultra low interest rates since Greenspan built the housing bubble in 2003.

[KY_EnviroGuy]

7. A greater fear is that he will start a real war next year....

to help rebuild and solidify his base. Patriotism and all that shit. Best way to get folks to forget about his tax bill scam.

I also have a strange feeling we'll see all sorts of his "deals" get finalized next year, just in time... ......

[Joe Nation]

9. In many financial circles, it seems as if we are being talked into the idea of a recession lately

That outta do it or at least push the process along.

[FloridaBlues]

11. There goes more savings down the drain

[myohmy2]

12. MAGA MAGA!!

" The Dow dropped 391 points, or 1.5%, on Monday afternoon. The S&P 500 and Nasdaq lost 1.2% apiece. Treasury bond yields once again fell sharply as investors piled into safe assets. "

...aw...

...

[wishstar]

13. While the CNBC experts opine that "investors have lost faith in Beijing"

not even mentioning that Trump started the tariff war and continues to fan the flames causing China to stop buying any agricultural goods from us so we are having to spend tens of billions bailing out our farmers from the losses.

[Maxheader]

14. I've started cashing in...

some mutual funds...rather have the cash...secure, Than falling under
dementia boys ill adivised economic moves...