Stocks suffer biggest one-day loss since Jan. 3 as U.S.-China tariff fight escalates

Published: May 13, 2019 5:53 p.m. ET

 
 
 
 

China editorial says country won’t ‘bow to any extreme pressure’

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China's Vice Premier Liu He gestures next to U.S. Treasury Secretary Steven Mnuchin in Beijing earlier this year.
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By

SueChang

Markets reporter
Author photo

ChrisMatthews

Markets Reporter

U.S. stocks closed sharply lower Monday, with the S&P 500 and the Dow logging their worst day since Jan. 3, as China moved to raise tariffs on U.S. goods and take other retaliatory measures after Washington last week increased duties on Chinese imports.

How did the benchmark indexes fare?

The Dow Jones Industrial Average DJIA, +1.05%  tumbled 617.38 points, or 2.4%, to 25,324.99 and the S&P 500 index SPX, +1.03% dropped 69.53 points, or 2.4%, to 2,811.87. The Nasdaq Composite Index COMP, +1.33% sank 269.92 points, or 3.4%, to 7,647.02, marking its biggest one-day loss for 2019.

What drove the market?

Tensions that drove volatility for stocks last week returned as investors weighed an escalating tariff fight that could pose risks to the U.S., Chinese and global economies.

Check out: Here are the stocks to buy if an all-out U.S.-China trade war erupts, says Goldman

After raising tariffs on $200 billion worth of annual Chinese imports to 25% from 10% on Friday, the Trump administration said it was ready to impose higher tariffs on another roughly $300 billion of goods, or nearly all the remaining products Americans buy from the world’s second-largest economy.

Need to Know: Almost time for investors to take ‘major defensive action,’ fund manager warns

Original Post

Prashad just picked up some American Hotel Reit shares.  He also got his eyes on the Sulfuric acid maker Chemtrade Logistics shares.  Both are under ten dollars. Just the type of stocks that Prashad is looking for. Make sure that your portfolios are diversified.

Blame Bill Clinton for giving away the cake shop to China when he gave them Most Favored Nation status.  Then Obama sold the country to them with money they made from US trade.  Trump has an uphill battle to bring home back some of the bacon.  But no one else can do it.  Or wants to do it.  

It is interesting to watch those who dislike Trump allow themselves to be blinded by hate and not getting the big picture with regards to trade. 

The Chinese are ruthless and took America for a ride with regards to trade. Trump is attempting a balancing act when in fact Clinton and Obama allowed America’s interest to be eroded.

Those on the left need to stop being political and start being more patriotic. They can cast their votes and speak their minds with regards to their like or dislike for Trump at the ballot but some their actions are unpatriotic. 

America’s interest should be first priority over the ruthless Chinese. 

yuji22 posted:

Those on the left need to stop being political and start being more patriotic. They can cast their votes and speak their minds with regards to their like or dislike for Trump at the ballot but some their actions are unpatriotic.

Banna you don't know what you are talking about, Americans don't goof up regarding allegiance to their country.

Billy Ram Balgobin posted:

The Chinese can rough up America in trade disputes.  Think about what they can do to a country like Guyana where they have 25% share of the big oil find.

CNOOC is the boss deh.  Hopefully they can hold off Hess and Exxon in the scramble. Jan Mangal is reporting that a secret fund in London was recently uncovered with possible ties to the Guyana oil blocks allotted to an investor.  PNC runnings starting up.  

Bibi Haniffa posted:
Billy Ram Balgobin posted:

The Chinese can rough up America in trade disputes.  Think about what they can do to a country like Guyana where they have 25% share of the big oil find.

CNOOC is the boss deh.  Hopefully they can hold off Hess and Exxon in the scramble. Jan Mangal is reporting that a secret fund in London was recently uncovered with possible ties to the Guyana oil blocks allotted to an investor.  PNC runnings starting up.  

This is interesting. 

ksazma posted:

Bai Yuji, everything that Trump and his family sell comes from China. 😀

Bhai, then he too has to pay tariffs now. This will all be settled since US farmers are caught in the squeeze and they mainly vote Republicans. 

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