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 ...
I’m paying attention to reports. Is media lying again ???
They are interpreting Trump as a politician and not a master negotiator. Opportunity when the market gets it wrong.
Trump has been beating up the Fed for raising rates.
The Fed isn't going to raise rates and predict a recession at the same time.
They don't believe in agreements or commitments. They stretch and twist terms to suit. our team is being blindsided at every stage and they don't know it.
Yeah - the algorithms that run the trading computers had zero to do with it....those who think Trump caused it are also saying he can simply speak a few words and it will jump 10% just like that....
No sense arguing with you. My time is limited and misinformation is something I do not spread
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