New York A dramatic escalation of the trade war between the United States and China sparked a worldwide sell-off in markets on Monday. The Dow closed down 767 points, and the Nasdaq Composite — a proxy for the technology companies that will be most harmed by a trade war — suffered its longest losing streak since November 2016.The Chinese government devalued the yuan to fall below its 7-to-1 ratio with the US dollar for the first time in a decade Monday.
The Nasdaq Composite finished down 3.5%, its biggest decline since October 24, 2018. The Nasdaq also logged its longest losing streak since November 2016, when it fell for nine-consecutive days in the lead-up to the presidential election.Last week, the S&P 500 and the Nasdaq Composite logged their worst week of the year last week.Hit particularly hard were tech stocks. Apple , Intel , Microsoft , Nvidia and Advanced Micro Devices were among the biggest losers on Monday.
ThanksTrump
CNN is so happy when China devalues their currency and Americans lose money. CNN is the enemy of the people CNN is fake news
CNN’s ratings are worse.
Well. He is a business man they said. Not a politician. He will do better they said. He is not a politician. The art of the deal they said he is not a politician. Well... come on. Add this to the list growing of lies, bluffs, mistakes, and oh how about his true history...lol
Well, we have a stable genius in the White House. We should have seen this coming.
China makes money less valuable. Priceless 😂😂
China isn’t a simple country! The fall is drastic!
Awesome move against the non-existent strategy of OrangeBabyDicktator
Trade wars are good and easy to win?
So China sent 500 billion in goods. trump tries to turn that 500B into 1 trill using tariffs. So the poor pay twice as much because China goods flood poor communities. trump keeps 500 and China gets 500🤔 Reminds me of the crack game...smh
normal for the stock market to fluctuate; up and down. stop the hysteria. constantly going up isn't normal or healthy. all rights reserved
Feel like winning yet?
Trump is manipulating the market again. Wish we could see his tax returns, and see how much stock he sold yesterday. Only an idiot would not expect China to fight back
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