Investors react as Trump calls for more China tariffs
Just when investors thought stock markets across the globe had calmed before the weekend, Donald Trump urged his administration to impose tariffs on an additional $100 billion in Chinese imports.
While U.S. stock-index futures fell after Trump’s move, investor reaction in equity markets across Asia wasn’t as big. Japan’s Topix index and South Korea’s Kospi gauge both slipped 0.3 percent, while Hong Kong’s Hang Seng Index rose 1.1 percent after a holiday Thursday. China’s stock and currency markets are shut until Monday due to its annual tomb-sweeping holidays. China later said it would counter U.S. protectionism “to the end, and at any cost.”
“It’s becoming childish,” said Nader Naeimi, Sydney-based head of dynamic markets at AMP Capital Investors Ltd. “At some point investors will say enough is enough, there’s just too much political volatility now.”
"The U.S. stock market is taking Trump’s escalation poorly, eroding support amongst the plutocracy," said Gary Greenberg, London-based head of global emerging markets at Hermes Investment Management. On the other hand, China’s tariffs on U.S. are well targeted as voters in agricultural states are “falling out of love” with Trump.
https://www.msn.com/en-us/money/markets/investors-react-as-trump-calls-for-more-china-tariffs/ar-AAvxwP4?li=BBnb7Kz
Trump said he was a financial wizard. He just took a wiz on all of us.