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Dow plunges more than 600 points on confusion over status of U.S.-China trade deal

JacksinPA

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https://www.washingtonpost.com/busi...60ce2a8148f_story.html?utm_term=.97fc34732992

The economic agreement President Trump said he reached with Chinese leader Xi Jinping on Saturday showed signs of unraveling Tuesday, with the White House threatening new penalties against Beijing and multiple officials seeking to downplay expectations for an eventual deal.

Investors, who had applauded the deal on Monday, turned sharply negative Tuesday. In midday trading, the Dow Jones industrial average had dropped more than 800 points or about 3 percent. The Standard and Poor’s 500-stock index and tech-heavy Nasdaq were also down about 3 percent.
==================================================
The stories about this trade deal with China keeps changing. This is not surprising considering the fact that Trump keeps changing his version of reality.
 

Visbek

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Yeah, well. I was slightly amused when the market jumped yesterday based on the China announcement. Anyone who thinks any sort of progress will be made in the next 90 days is definitely huffing fumes.

Equally laughable is the idea that in the short term, market prices are set on the basis of a rational assessment of all the information at hand. Anyone who didn't know Trump would spike the deal in the first week hasn't been paying much attention for the past ~2 years....
 

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Dow Jones down again? I expect a tweet or two today about how this is all the democrats fault. Or will he blame that evil caravan of muslim terrorists and hispanic murderers again?
 

Phys251

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https://www.washingtonpost.com/busi...60ce2a8148f_story.html?utm_term=.97fc34732992

The economic agreement President Trump said he reached with Chinese leader Xi Jinping on Saturday showed signs of unraveling Tuesday, with the White House threatening new penalties against Beijing and multiple officials seeking to downplay expectations for an eventual deal.

Investors, who had applauded the deal on Monday, turned sharply negative Tuesday. In midday trading, the Dow Jones industrial average had dropped more than 800 points or about 3 percent. The Standard and Poor’s 500-stock index and tech-heavy Nasdaq were also down about 3 percent.
==================================================
The stories about this trade deal with China keeps changing. This is not surprising considering the fact that Trump keeps changing his version of reality.

I've been saying for months that the economy has had some storm clouds on the horizon. Now they are starting to come into clearer view.

Brace yourselves, everyone. 2019 is going to be a bumpy ride.
 

Mycroft

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https://www.washingtonpost.com/busi...60ce2a8148f_story.html?utm_term=.97fc34732992

The economic agreement President Trump said he reached with Chinese leader Xi Jinping on Saturday showed signs of unraveling Tuesday, with the White House threatening new penalties against Beijing and multiple officials seeking to downplay expectations for an eventual deal.

Investors, who had applauded the deal on Monday, turned sharply negative Tuesday. In midday trading, the Dow Jones industrial average had dropped more than 800 points or about 3 percent. The Standard and Poor’s 500-stock index and tech-heavy Nasdaq were also down about 3 percent.
==================================================
The stories about this trade deal with China keeps changing. This is not surprising considering the fact that Trump keeps changing his version of reality.

Who cares about Wall Street? Those idiots will lose a trillion dollars if a bear ****s in the woods unexpectedly.

The media still hasn't come to understand that our economy isn't about Wall Street anymore.
 

Phys251

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https://www.usatoday.com/story/mone...eld-curve-sends-warning-investors/2204120002/

Just when it looked like the battered bull was healing, the Dow Jones industrial average suffered a drop of more than 700 points Tuesday when the bond market sent an ominous signal: The yield on the two-year U.S. government bond rose above the interest rate paid out by five-year notes.

Why the pessimism over that obscure-sounding shift? Historically, when short-term rates rise above longer rates -- which is dubbed an "inversion of the yield curve" -- it signals an economic slowdown is coming.
 

SMTA

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Yeah, well. I was slightly amused when the market jumped yesterday based on the China announcement. Anyone who thinks any sort of progress will be made in the next 90 days is definitely huffing fumes.

Equally laughable is the idea that in the short term, market prices are set on the basis of a rational assessment of all the information at hand. Anyone who didn't know Trump would spike the deal in the first week hasn't been paying much attention for the past ~2 years....

Love the professional assessment.
 

Phys251

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Hawkeye10

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https://www.washingtonpost.com/busi...60ce2a8148f_story.html?utm_term=.97fc34732992

The economic agreement President Trump said he reached with Chinese leader Xi Jinping on Saturday showed signs of unraveling Tuesday, with the White House threatening new penalties against Beijing and multiple officials seeking to downplay expectations for an eventual deal.

Investors, who had applauded the deal on Monday, turned sharply negative Tuesday. In midday trading, the Dow Jones industrial average had dropped more than 800 points or about 3 percent. The Standard and Poor’s 500-stock index and tech-heavy Nasdaq were also down about 3 percent.
==================================================
The stories about this trade deal with China keeps changing. This is not surprising considering the fact that Trump keeps changing his version of reality.

With Washington nonfunctional and America basically in a civil war and with the West melting **** is going to happen.

BUCKLE UP!
 

OlNate

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Who cares about Wall Street? Those idiots will lose a trillion dollars if a bear ****s in the woods unexpectedly.

Mmm...probably all those folks who are relying on the investments in order to retire. Or anyone saving up to put their kids through school. Or saving up to buy a house. Etc.

I know, I know, **** everything except for gleefully braying "Trump is the best!" Meanwhile, ol' Stable Genius is sure driving some dumb instability. I wonder who could have seen that coming?

:lamo
 

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I lump sum invest when it drops like this. No idea if it's good or bad, but it feels right. Market corrects, buy, otherwise sit. Really sophisticated.
 

Mycroft

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Nobody who lived through the Great Recession should ever make such a stupid comment.

Mmm...probably all those folks who are relying on the investments in order to retire. Or anyone saving up to put their kids through school. Or saving up to buy a house. Etc.

I know, I know, **** everything except for gleefully braying "Trump is the best!" Meanwhile, ol' Stable Genius is sure driving some dumb instability. I wonder who could have seen that coming?

:lamo

yawn...

Let me know when we stop getting economic reports like this: https://www.instituteforsupplymanag.../newsreleasedetail.cfm?ItemNumber=31086&SSO=1

That's when I'll worry about the economy.
 

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https://www.washingtonpost.com/busi...60ce2a8148f_story.html?utm_term=.97fc34732992

The economic agreement President Trump said he reached with Chinese leader Xi Jinping on Saturday showed signs of unraveling Tuesday, with the White House threatening new penalties against Beijing and multiple officials seeking to downplay expectations for an eventual deal.

Investors, who had applauded the deal on Monday, turned sharply negative Tuesday. In midday trading, the Dow Jones industrial average had dropped more than 800 points or about 3 percent. The Standard and Poor’s 500-stock index and tech-heavy Nasdaq were also down about 3 percent.
==================================================
The stories about this trade deal with China keeps changing. This is not surprising considering the fact that Trump keeps changing his version of reality.
There was never an agreement in the first place. Chalk this up to the art of the imaginary deal: markets not too happy to discover that Trump is delusional and makes stuff up. But why were they surprised?
 

Phys251

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Right, I know, the Great Recession means nothing to you. You blindly support President Trade Wars and believe that he is doing absolutely nothing whatsoever to continue this mess.

Give me back the Obama economy, please.
 

Mycroft

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Nobody who lived through the Great Recession should ever make such a stupid comment.

Right, I know, the Great Recession means nothing to you. You blindly support President Trade Wars and believe that he is doing absolutely nothing whatsoever to continue this mess.

Give me back the Obama economy, please.

Look at the numbers in that link I reported. Then tell me what makes you think we'll have another recession?
 

Phys251

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Look at the numbers in that link I reported. Then tell me what makes you think we'll have another recession?
You are telling me to go read a source? :lamo
 

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All I have to say is that somebody's getting rich off this volatility, and it ain't ****ing me.
 

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Who cares about Wall Street? Those idiots will lose a trillion dollars if a bear ****s in the woods unexpectedly.

The media still hasn't come to understand that our economy isn't about Wall Street anymore.

Trump clearly thought it was.
 

Cardinal

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I lump sum invest when it drops like this. No idea if it's good or bad, but it feels right. Market corrects, buy, otherwise sit. Really sophisticated.

All the experts say that in the long run what you're actually doing, whether you're aware of it or not, is betting against the market.

I'm not qualified to agree or disagree with this.
 

Mycroft

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You are telling me to go read a source? :lamo

You're right. What was I thinking? Facts mean nothing when you have biased spin, speculation, innuendo and hyperbole, right?
 

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yawn...

Let me know when we stop getting economic reports like this: https://www.instituteforsupplymanag.../newsreleasedetail.cfm?ItemNumber=31086&SSO=1

That's when I'll worry about the economy.

lol...no you won't. You'll still say it was all part of Trump's big plan, and "who gives a crap" about whatever source you're getting the information from, all punch drunk on MAGA-aid.

Sorry, Mycroft, you simply have no credibility, and a demonstrated ignorance regarding your own economy, beyond what the Trumpster Talking Point Hand Book has to say about it. Seriously, it's breathtaking how consistently WRONG you are. :lol:
 

Phys251

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You're right. What was I thinking? Facts mean nothing when you have biased spin, speculation, innuendo and hyperbole, right?

Right back at you!
 

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https://www.washingtonpost.com/busi...60ce2a8148f_story.html?utm_term=.97fc34732992

The economic agreement President Trump said he reached with Chinese leader Xi Jinping on Saturday showed signs of unraveling Tuesday, with the White House threatening new penalties against Beijing and multiple officials seeking to downplay expectations for an eventual deal.

Investors, who had applauded the deal on Monday, turned sharply negative Tuesday. In midday trading, the Dow Jones industrial average had dropped more than 800 points or about 3 percent. The Standard and Poor’s 500-stock index and tech-heavy Nasdaq were also down about 3 percent.
==================================================
The stories about this trade deal with China keeps changing. This is not surprising considering the fact that Trump keeps changing his version of reality.

And of course as usual Trump's big mouth certainly didn't help when he proudly proclaimed on Twitter "I'm a tariff man!"
 

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Tin foil hat time!

What if Trump is screwing with the news just to make the market bounce up and down so he can make himself and his friends tons of money? Is it crazy? I don't know; maybe a little. Would it be just like him to do? Oh, you betcha.

And of course as usual Trump's big mouth certainly didn't help when he proudly proclaimed on Twitter "I'm a tariff man!"

Or, maybe (and continuing with my tin foil hat theme) he helped himself a lot, he's already buying up tons of stock, and in another few days another "surprise announcement" causes the market to go back up ~500 points. Rinse and repeat.
 
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Phys251

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Tin foil hat time!

What if Trump is screwing with the news just to make the market bounce up and down so he can make himself and his friends tons of money? Is it crazy? I don't know; maybe a little. Would it be just like him to do? Oh, you betcha.

Honestly I wouldn't go that far. I think it's just a product of the fact that (1) he's a nationalist by his own admission, and (2) he's a moron by his own admission. (Well he didn't explicitly say the latter, but just about everything that comes out of his mouth proves it.)
 
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