Global stocks tumble after President Trump's 'crazy' comment about the Federal Reserve

[workinclasszero]

AGENCE FRANCE-PRESSE 11 OCT 2018 AT 04:13 ET

Asian markets plunged Thursday morning following the worst session on Wall Street for months, as US President Donald Trump said the Federal Reserve had “gone crazy” with plans for higher interest rates.

The benchmark Nikkei 225, the Hang Seng in Hong Kong and the Shanghai Composite all plummeted more than three percent in early morning trade, as investors fretted about surging interest rates and an ongoing trade war.

“All bets are off,” warned Stephen Innes, head of trading at OANDA, adding that the markets “are fraught with peril.”

“The US equity bloodbath is taking no prisoners in Asia as a sea of red greets investors at the open, as equity deleveraging and liquidation intensifies,” he said.

Taiwan plunged nearly six percent, with Seoul down three percent and Sydney and Singapore both falling two percent.

The steep drop in Asia followed a decline on Wall Street of nearly 830 points, the biggest fall since February, amid Trump’s latest criticism of the Federal Reserve, the US central bank.

https://www.rawstory.com/2018/10/global-stocks-tumble-president-trumps-crazy-comment-federal-reserve/

[Achilleaze]

1. Thanks a diaperload, Dirty Donny* (R)

This is another colossal, stinking mess you and your KGOP republicans have created. Sick and sad. republicans should stick to lying about climate change and drunken sex predators since that's where they have the most expertise.


* aka republican Draft-Dodger-in-Chief

[htuttle]

2. I bet he's short on a bunch of stocks

That would explain why he called yesterday's drop 'a correction' instead of blaming it on Obama again -- he probably made money on it.

[greymattermom]

3. Every time they crash the market

I think that a few folks know ahead of time. It's just another money making scheme for them, now that Trump properties aren't doing so well. If that's true, it will come roaring back soon, so the rest of us should buy.

[get the red out]

4. I knew this was coming

One way or another, I knew Trump would screw up the economy, just a matter of time. The tariffs and now this. The man radiates the stench of FAIL!