Skip to comments.Trump sends Dow Jones plunging nearly 800 points by tweeting 'I am a tariffs man' raising fears...
Posted on 12/04/2018 2:20:45 PM PST by Morgana
FULL TITLE: Trump sends Dow Jones plunging nearly 800 points by tweeting 'I am a tariffs man' raising fears his 'truce' with China will be followed by full-scale trade war and recession
U.S. stock markets plummeted Tuesday as a series of tweets from President Donald Trump suggested a trade war with China could resume next year despite claims of a truce and a long-term deal between the two countries.
The Dow Jones closed almost 800 points down at 25,027, a loss of 3.1 per cent of its value, while billions were also wiped off the value of the Nasdaq and the S&P 500, the other two key indices.
The S&P 500 lost 90 points, or 3.2 percent, to 2,700. The Nasdaq fell 283 points, or 3.8 percent, to 7,158.
Trump said in tweets that he and Xi would 'probably' have a deal at the end of a 90-day timetable for talks that began on Saturday - but declared himself against free trade.
The declaration sent shockwaves through stock markets already nervous of a downturn and buffeted by fears of a tech slowdown which has seen Apple and other Silicon Valley firms lose billions off their value.
'Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina,' he asserted. 'China is supposed to start buying Agricultural product and more immediately. President Xi and I want this deal to happen, and it probably will.'
He then proclaimed himself to be a 'tariffs man' in direct contradiction to his own White House's assertions that Trump is a free-trader.
(Excerpt) Read more at dailymail.co.uk ...
Way too many snowflakes in and on Wall Street these days....
Good. I hope he scares the crap out of them.
Trump is a USA man. That’s all you need to know about Trump to understand him. And that both the USA and Trump are world leaders.
Trump gets it. The USA had, until they elected him, lost their way. The USA is just dragging her feet a little.
Ain’t that the truth?!
That is 3%. Not good, but not the end of the world.
More Fake News that makes its way to FR.
Pres. Trump probably wants a fair deal more than he wants tariffs.
That fighting China’s unfair trade policies puts jitters in our markets is proof of how inappropriately dependent and vulnerable we’ve become to the economy of a totalitarian Communist state. Better to deal with this now than to try after it’s too late.
I’ll take a tariff at this point. I’m so sick of Chinese crap.
Trump is also scaring the Chinese.
Fake news. It was the Bond market signal of a potential recession which triggered the selloff.
People usually take profits in Dec.
R U Kidding me?
Debt , wars, corruption,,
Never bothered investors before.. say the T word tho.. OOoooOOooo...
A lot of financial services firms make money when stocks and such move,, Christmas hasn’t gotten any cheaper than before the depression and likely won’t .. nor will adviser and brokerage fees.
I’ve never seen a media and party so hell bent on wiping this country off the map, all while they benefit most of all.. They are the true elite. Idiots.
Boo. Hoo. The Wall St. wimps made tens of millions during Obama’s zero rate Federal Reserve coddling for eight years. They should suck it up and stop crying like weaned babies about two words ”Tariff Man.” They might have to forego the Lamborgini this Christmas.
There are days when markets are driven by pure emotion.
Its up from 14,000 or whatever it was before election day to 25,000 !!! There is some serious dumb out there.
> “ I hope he scares the crap out of them.”
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