Posted on 05/09/2019 10:10:46 AM PDT by SeekAndFind
* World stocks slumped Thursday after US President Donald Trump accused China of scuttling the two nations' trade talks.
* The news fanned fears that his threatened tariff increases on $200 billion worth of Chinese goods would kick in Friday.
* "China broke the deal," Trump said at a rally Wednesday night.
* Hardware stocks such as Nvidia, Intel, Microchip, Becton Dickinson, Seagate, and Western Digital fell by more than 3% as investors anticipated higher component costs and lower sales to China.
* One analyst said "growth on a global scale will take a hit" if tariffs were to increase.
Asian, European, and US stocks slumped Thursday after US President Donald Trump accused China of scuttling the two nations' trade talks, fanning traders' fears that his threatened tariff increases on Chinese goods would be implemented Friday.
"China broke the deal," Trump said at a rally Wednesday night, doubling down on the White House's assertion that Chinese officials reneged on provisions from a draft trade agreement. He plans to meet with Liu He, China's top trade negotiator, in Washington this week only if the two sides make progress, according to Bloomberg.
"These comments clearly don't bode well for the trade talks which are due to start today," Jasper Lawler, the head of research at London Capital Group, said Thursday. He pegs the chances of the tariff hike — to 25% from 10% on $200 billion worth of Chinese goods — being introduced at 75%.
(Excerpt) Read more at markets.businessinsider.com ...
“PLUNGE!” LOL...was down 440 now down 162. The markets know Trump is right and that Trump will win.
Trump is very rightly separating trade from other China issues.
The childish media want everyone to assume that fixing the imbalance of trade and policy automatically means we must inherently hate China. The MSM used the same simplistic logic with Russia.
Trump is the adult who understands that there are serious problems that must be dealt with, but China and Russia are not going away.
When this goes on for a period of time, both china and the rest of our trading partners will realize that regardless of the wall street hacks, the swamp dwellers etal., Trump WILL NOT BACK DOWN.
Additionally, although the money comes from us, the USA treasury will collect BILLIONS. I'm not thrilled about that, but it is a reality.
My portfolio is up, thank you very much.
The numbers will go up again, and the media will not bother to tell the folks.
Numbers in 100’s were meaningful per centage drops in the past when Dow was 16000 in 2014
But now the % change is small but drops of several hundred points is sensational.
Wow, who knew a 25% tariff on $350B of goods = < $100B PER YEAR influences the stock market.! LOL It’s all globalist faux reaction. Manufactured plunge.
The sky is falling! Oh noes!
What? Some think that there will never be another trade deal with China? In what century?
RE: My portfolio is up, thank you very much.
You must be a great options trader.
We can always shift our supply sources from China to other countries.
Anyone remember “the new normal”?
No, Just do my own portfolio management, based on various advisory services and my subsequent evaluation.
While everyone is concentrating on the on tariffs and balance of trade which are the tip of the iceberg to get China’s economy to implode, they have been missing the real end game story which is using ratcheting tariffs to force manufacturers producing in China and selling to the US which is their major market the hell out of there to other low wage nations to produce so they do not have to deal with increased production cost of incorpoarating the tariff in their product and making them less competitive.Look for these dudes to start wholesale movements of their plants to Cambodia , Thailand and India with its 1.3 billion populace China is eating the 10 percent tariff right now to keep competitive but once we get to 25% it’s Katy bar the doors as Chinese prices become less competitive and once Trump extend the tariffs to ALL of China’s imports their economy is history. Rampant unemployment will ensue and they will have fewer foreign producers in China to steal technology from.Trump smells blood in the water. The Chinese will fold to every demand but in the end I hope we unload them altogether as a trading partner.
We’ll ride out the storm, clear skies are on the horizon.
Was listening to Trump on the radio. Wish he would use twitter to say the same thing, so people could understand what’s really going on. The whys and hows of running a country.
No they won’t.
“was down 440 now down 162”
I show down 93 now.
Good chance will close in the green today methinks.
Stupid story at Drudge blaming Trump’s tweet for the loss of stock value. No, blame his ongoing righteous fight with China. So a few Wall Street shills lose money. America main street will continue to prosper under this POTUS. Chinese corporate sell outs will lose.
Drudge is so shameful for headlining this news.
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