Trump tweetstorm sinks Wall Street as trade war rages on

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  • #123152

    Ohio Barbarian
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    @ohiobarbarian

    NEW YORK (Reuters) – Wall Street plunged in a broad sell-off on Friday as China and the United States traded their latest salvos in a prolonged trade war, spooking investors and erasing slight gains following a generally positive speech by U.S. Federal Reserve chair Jerome Powell.

    All three major U.S. stock indexes turned sharply lower, setting a course for their fourth consecutive weekly declines after President Donald Trump tweeted that U.S. companies should “immediately start looking for an alternative to China.”

    Trump pressed American companies to leave China in response to an earlier announcement from Beijing that it would impose a new round of retaliatory tariffs on an additional $75 billion in U.S. goods, upping the ante in an acrimonious trade war that has roiled markets for months and shown little sign of abating.

    “It is mind-boggling,” said Ken Polcari, managing principal at Butcher Joseph Asset Management in New York. “On one day (Trump) tells you everything is going great with China and today he is saying everyone get out of China.”

    Full story here. 

    We know now that Government by organized money is just as dangerous as Government by organized mob.--Franklin Delano Roosevelt

    With Bernie Sanders, we have the receipts. --Nina Turner

  • #123155

    NV Wino
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    • Total Posts: 2,591
    @nvwino

    Why does anyone bother to listen to what Trump says?

    “As we act, let us not become the evil that we deplore.” Barbara Lee
    “Politicians and pro athletes: The only people who still get paid when they lose.” William Rivers Pitt

  • #123221

    Snort McDork
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    @snortmcdork

    I thought Wall St. loves him?

    Those investors are probably going to engage in heavy drinking over the weekend.

    • #123671

      Mr. Mickeys Mom
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      • Total Posts: 1,104
      @mrmickeysmom

      Wall Street only loves controlling the dialogue and a sure winner… They’re fucked in a different, really, really rich way.

       

       

      Hell, no... I'm not giving up...

  • #123403

    Cold Mountain Trail
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    @coldmountaintrail

    more wood for the getting rid of trump fire.

    unfortunately, pence is vp.

  • #123408

    N2Doc
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    @n2doc

    I never want to hear from any pundits saying Bernie can’t do anything if elected because Congress will oppose him. Trump has amply shown what sort of power a president has and can exercise if said President cares to do so.

    • #123485

      snot
      Member
      • Total Posts: 282
      @snot

      Great point, Doc, thanks!  I’ll use that.

      Destruction is easy; creation is hard, but more interesting.

      • #123660

        Quinn
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        • Total Posts: 176
        @quinn

        Indeed

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