Posted on 03/01/2018 11:02:12 AM PST by John W
U.S. equity indexes sank Thursday afternoon, pitching sharply lower amid an announcement that President Donald Trump would impose tariffs on steel and aluminum imports, raising concerns of protectionists trade policies.
The tariff news also come as the market was following a second round of testimony from Federal Reserve Chairman Jerome Powell, which concluded at around noon.
Trump told steel and aluminum executives gathered at the White House on Thursday that the U.S. would announce tariffs on imports of those products next week. Trump said the U.S. would set tariffs of 25% for steel and 10% for aluminum.
Stronger-than-expected economic releases earlier lent support to markets, with the Institute for Supply Management’s manufacturing index hitting a 13-year high, had initially helped push the market higher at the open, before the benchmarks relinquished its gains.
(Excerpt) Read more at marketwatch.com ...
Winning!
(wall street will be just fine)
Markets tanking late in the day all week.
Anyone suspicious?
I am. I really consider it just another attempt to keep the swamp full.
The big money is angry that Trump is doing things for America, and not for corporate profits alone.
Some people try to identify the causes
of the various bumps and dips in the market.
Some other people believe them.
Silly. Investors are rotating out of industries that are most hurt be rising interest rates. They are rotating into areas and industries that perform better under such conditions.
I recently took some USA profits and moved a chink of dough into Japan and Europe for example. Those places look better set for growth than much of the USA at this time.
The only thing I believe about the markets is that they are not rational. But somehow in the long term, they always end-up beating inflation. Even during the dead years of the obumber administration.
Let them reach....Go Trump
I would right now consider investing in RioTinto Alcan, Alcoa and Arconic, all companies that will benefit from import tariffs on aluminum into the USA from outside North America.
Er..Let them react...
The words Japan and growth haven’t gone together for ages
Earlier in the day the news was that the Tariff’s were propping the market up.
Suspicious of what? Profit-taking?
Steel imports paper: https://www.trade.gov/steel/countries/pdfs/imports-us.pdf
Canada at #1, China #11
Zerohedge article (pretty good for them):https://www.zerohedge.com/news/2018-03-01/white-house-preparing-impose-stiff-tariffs-aluminum-steel
That’s the standard CNBC reason the market goes down. If it goes up, then it’s “bargain-hunting”. These explanations may be literally true without being particularly useful.
500 point drop. It will be interesting to see if Trump decides to repeat this strategy with other imports. I’m thinking not.
Yes, you are right. Japan’s demographics are finally coming around to the right place for growth, imo.
How about 1500 points this week so far?
Are you saying the truth is unuseful to an agenda?
Then I’d look closely at the agenda.
Or is it that the lack of evidence is just proof
that the conspiracy is working?
Maybe I should invest in Big Tin Foil....
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