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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDow plunges more than 500 points as Trump picks on Amazon and trade-war fears return
Dow plunges more than 500 points as Trump picks on Amazon and trade-war fears returnJoe Ciolli 5m
US stocks saw deep losses Monday as President Donald Trump continued to publicly criticize Amazon, and his administration prepares to roll out China-specific tariffs.
Technology, consumer discretionary, and energy stocks led major indexes lower.
US stocks tumbled Monday as President Donald Trump doubled down on his criticism of Amazon, sending technology and consumer discretionary stocks lower.
The selling also comes ahead of the Trump administration's plan to unveil this week the list of Chinese imports targeted for US tariffs. The list of $50-60 billion worth of annual imports is expected to target "largely high-technology" products.
The more tech-heavy Nasdaq 100 which has been a lightning rod for market volatility in recent weeks plummeted as much as 3.3% to lead all major US indexes. Meanwhile, the benchmark S&P 500 dropped as much as 2%, and the 30-company Dow Jones industrial average slid more than 2.1% at one point.
http://www.businessinsider.com/stock-market-today-selloff-trumps-amazon-criticism-china-trade-war-fears-2018-4
malaise
(269,054 posts)Rec
workinclasszero
(28,270 posts)More winning ahead for Trump voting farmers and tech folks as well.
Enjoy your god emperor assholes!
Eliot Rosewater
(31,112 posts)workinclasszero
(28,270 posts)But Shitler is a schoolhouse bully. He thinks he can yank China and the EU's chain and they will cower before him.
He is wrong on that like everything else I bet.
onecaliberal
(32,864 posts)lpbk2713
(42,759 posts)KewlKat
(5,624 posts)Another crime. He is hurting his perceived enemies.
workinclasszero
(28,270 posts)NRaleighLiberal
(60,015 posts)more crimes.
lunasun
(21,646 posts)IronLionZion
(45,454 posts)and they buy low.
The rest of us lose out and retirees get screwed because we just aren't as hard working as these job creators.
I bet a lot of Trumpsters got taken for a ride on this too. Lots of folks thought the tax cuts would make the stock market great again.
Exotica
(1,461 posts)his tweets. Insider trading 101.
dalton99a
(81,515 posts)Its Not Just China's Retaliatory Tariffs That Should Worry U.S. Businesses
One of the biggest weapons Beijing wields is popular nationalism, which often works in cahoots with government coercion. Last year, China targeted South Koreas economy in response to Seouls decision to host the U.S. THAAD missile defense system, which Beijing deems an affront. According to South Koreas National Assemblys Budget Office, a tourism boycott alone saw Chinese arrivals drop 67% and cost the South Korean economy $6.8 billion.
In addition, department stores run by South Korean conglomerate Lotte which owns the land where THAAD was deployed were forced to close in China on dubious fire safety grounds. Sales of Hyuandi and Samsung products also suffered. In fact, there were 43 cases of retaliation in the six months to last February, according to Korean news agency Yonhap.
Economic warfare will often spring organically. In 2008, Chinese nationalists urged a boycott against French supermarket chain Carrefour after Tibetan independence advocates protested the Olympic torchs route through Paris. In 2010, by contrast, China declared an official boycott against Norwegian salmon exports after the Nobel Peace Prize was awarded to Chinese dissident Liu Xiaobo. Philippine banana imports were also banned over territorial disputes between Beijing and Manila in the South China Sea.
tanyev
(42,567 posts)workinclasszero
(28,270 posts)in those days.
I'm sure Putin is well pleased with his employee in the oval office.
politicaljunkie41910
(3,335 posts)dropped and it turned out that his friend and advisor Carl Icahn had sold off his shares a month before.
Carl Icahn sold $31.3m of shares in a company dependent on steel imports days before the commerce department mooted stiff tariffs on imports
Carl Icahn, a former special adviser to Donald Trump, sold $31.3m of shares in a company heavily dependent on steel imports last week, shortly before Trumps announcement of new tariffs sent its shares plummeting.
Icahn, a billionaire investor who was a major Trump supporter, started selling shares in the crane and lifting equipment supplier Manitowoc Company on 12 February, days before the commerce department first mooted plans to impose stiff tariffs on foreign steel imports.
The news was first reported by Think Progress. ...
https://www.theguardian.com/business/2018/mar/02/carl-icahn-shares-sell-trump-steel-tariffs-announcement-timing
He's doing this stuff so that after the market drops, he and his rich cronies can go back and pick up these stocks cheap while the rest of the John Q Citizens have taken the brunt of the losses and lost the shirts off their back, and don't have the resources to pick up any of those cheap stocks.
Trump's a lousy businessman and a lousy president so he has to cheat like he's always done.
Gosh I can't wait until Mueller's investigation is complete so he can LOCK TRUMP UP!!!!
workinclasszero
(28,270 posts)Trump gave his pal a warning before he pulled that trigger!
GusBob
(7,286 posts)Look it how much power my big mouth has!
Hawaii Hiker
(3,166 posts)and caused a near panic as people rushed to buy toilet paper...
Now think what damage a POTUS can do with his bully pulpit....This SOB is picking fights with people and he is spooking the markets.....Expect to see more of this from the shithead in chief....
workinclasszero
(28,270 posts)are going to take a beating too.
Trump voters don't get a pass on that either! Wee!!!!!
MoonRiver
(36,926 posts)Nor are all the rest of us who invest in the markets.
Johonny
(20,851 posts)mahatmakanejeeves
(57,489 posts)Dow drops more than 500 points after its biggest quarterly loss in more than two years https://on.wsj.com/2uLjMrO
Link to tweet