The Dow dropped more than 600 points, or more than 2%, on Thursday, underlining growing concerns among investors about looming tariffs on China.
The S&P 500 was down 2%, and the Nasdaq almost 2%.
"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 announced tariffs on about $50 billion worth of Chinese imports 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.
Read more: http://money.cnn.com/2018/03/22/investing/dow-jones-trade-war-china/index.html
It's being called various things by various people. 'Trade War', 'Tariff Plan', "not a trade war" ....
Free trade has been the mantra since WWII ... except for Nixon's 10% tariff an all imported goods:
For people of a certain generation, the brilliant, cunning, yet curiously tone-deaf and self-destructive Richard Nixon, U.S. President (1969-1974), is a bottomless well of interesting stories.
Remembered by a dwindling few is that Sunday of August 15, 1971 when Richard Nixon slapped on a 10% tariff, or import surcharge, on nearly all goods entering the United States. Hard as it is to believe today, Nixon also instituted nationwide wage-and-price controls, and took the U.S. dollar off of gold.
(Reuters) - Shares of Facebook Inc fell 3 percent in premarket trading on Thursday as an apology from Chief Executive Mark Zuckerberg did little to quell Wall Street nerves about how much a row over user data privacy will cost the company.
Read more: https://www.reuters.com/article/us-facebook-cambridge-analytica-stocks/no-sign-of-relief-for-facebook-shares-after-zuckerberg-apology-idUSKBN1GY1GI
'Please make shares go up now ... don't let them go the way of MySpace'
PHILADELPHIA (WPVI) --
A WINTER STORM WARNING has been issued for our entire area until 2 a.m. Thursday.
SNOWFALL/COASTAL ISSUES: We're looking at the possibility of about 8-12" in much of SE Pennsylvania, northern Delaware and areas of South Jersey near the NJ Turnpike. 4-8" is expected in areas closer to Allentown and Reading, as well as the heart of South Jersey closer to the coast. The immediate coast receives only about 2-4" of snow and ice. COASTAL FLOODING is also likely at times of high tide, both in the morning and evening with moderate flooding possible. In Atlantic City, high tide is 10:51am and 11:13pm. Beach erosion is also possible today and tonight.
Read more: http://6abc.com/weather/49644/
My snow cravings: doughnuts. Doughnut home delivery in the snow would be a growing business!
The Poyntz case may not be of merely historical interest in Washington these days. We are in the unprecedented situation where the president and his retinue are under special counsel investigation for their secret ties to the Kremlin. Given Putins predilections, Americans who cooperate with Robert Mueller and his prosecutors, sharing information that will harm Team Trump, may be putting themselves at risk of Russian retribution.
Last week, Rick Gates, the Trump campaign official who agreed to cooperate with the Mueller investigation and spill the beans about Russia-related happenings in 2016, cancelled a spring trip to Boston in response to online threats of violence against him and his family. While this was most likely just noxious trolling of the sort thats depressingly common regarding anything Russian, Gates made the right decision. In Cold War 2.0, the old Chekist rulebook has been thrown out. Anyone whos deemed a threat by Putin may be at risk of getting lethal attention.
People without guns are marching to state that they too, as disarmed people going about their
lives, also have rights.
For the longest while that has not been the case. Those without arms were afraid to protest, went
silently through the months, hoping nothing untoward happened.
Living in fear is no freedom. It is often not even civil. It is no way to experience life in the fullest.
Wide ranging interview of a former Newsweek journalist who has many a tale to tell about people and journalists who visited Germany pre-war. He's met many of the famous journalists of the period. He says people didn't take Hitler seriously, thought him a lightweight, or that he was a "marvelous demagogue". Have we heard this recently? And this interview is from 2012 so they had no idea Donald Trump would be anywhere near the presidency.
Did you know Richard C. Hottelet, the famed CBS journalist, was held by the Third Reich in 1941? I sure didn't.
They fought the Nazis with a very high price. They had no choice.
Trump really taken to the woodshed!
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