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 Managements 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 ...
Other countries especially China have been waging economic warfare against the USA for decades.
As result 1 city in China makes 90% of the World's electronics.
The following quote is from the article I linked below. These are not my words just facts:
" Shenzhen is known as the worlds factory because so much of our stuff is made there. In fact, Inc. reported that 90% of the worlds electronics come from Shenzhen, including toys, televisions, air conditioning units, mobile phones and drones."
https://www.weforum.org/agenda/2017/11/inside-shenzhen-china-s-gadget-capital/
China destroyed the U.S. electronics industry.
Now china is trying to steal what's left of the U.S. steel and aluminum industries.
Yes. It all hinges on what happens next. But the populist game does not permit those who play to simply ignore the ups and downs of the stock market. I’m sure Trump took notice. And no doubt he’ll take it into consideration next time he acts.
the populist game does not permit those who play to simply ignore the ups and downs of the stock market
............
The market’s gonna up and down whether you play it or not.
Those who don’t buy and hold may have some restless nights,
but the rest of us play a longer game and sleep very well.
Investors, sure. Not politicians.
“Other countries especially China have been waging economic warfare against the USA for decades.”
Exactly. And we’re losing. Hence all the empty factories, welfare, foodstamps and general degradation of the middle class.
I watched FBN today, and so many talking heads, who I really like, were soooooo upset about the tariffs.
They all need to slapped upside the head:
American consumers don’t PAY (foreigners do), they get HIRED.
These wall street robots don’t know that tariffs increase domestic profits....
Good luck. You’ll need it.
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