By Thomas Heath Thomas Heath Local business reporter and columnist, writing about entrepreneurs and companies in the Washington metropolitan area Email Bio Follow May 13 at 4:02 PM U.S. markets plunged Monday as China said it would raise steep tariffs on $60 billion in U.S. goods, upping the stakes of a trade war that threatens to imperil the global economy.
The S&P 500 and Nasdaq saw their worst day of the year. The S&P on Monday held just above a key threshold of 2,800. Asian markets were down more than 1 percent on China’s response, with the Shanghai Composite dropping 1.2 percent and Japan’s Nikkei 225 down just shy of 1 percent. European markets were down across the board, with the German Dax leading the drop, off 1.5 percent. France’s CAC had fallen 1.2 percent and the Pan European Stoxx 600 was off 1.2 percent.
Oil futures initially climbed on the news, with U.S. benchmark West Texas Intermediate advancing 1.6 percent and Brent crude up nearly 2 percent. Both benchmarks had reversed and oil prices were on the decline by early afternoon as the trade fears overwhelmed the Iran concerns.
Positive changes take time and persistence............ only a naive person would expect changes over night ' so quit spinning ' asking nicely i dont believe will work with the chinese has not for that last 25 years
randy10307 Trump will do anything to keep his base in 2020. The rest of us know what he’s up to. FarmersVSTariffs
Predictable
I'm not a trumpist but tariffs will help us to stop buying a whole lot of useless stuff. Go for it!
Pay attn Washington Post
Tomorrow morning, just before the stock market opens, Trump will tweet: “My great friend Xi Jinping just told me he’s ready for an epic deal! MAGA!”
About time someone had the gumption to stand up to China..too many cowardly presidents in the past have not had the balls to face up to and confront China ..they have accepted cowardly defeat all too easily..well done to Trump.
Is he yawning? He should be yawning. That’s not really much of a drop given current market levels.
Can we stop winning now? Please?
BiggestLoser
BillionDollarLoser
I'm getting tired of all of this winning... BillionDollarLoser
DonaldJTrumpJr...yo JR. Nothing to brag about today? MORON DADDYs Winning.
Gotta take some hits for boldness. Give it time.
My portfolio today
Tired of winning yet?
Wiped one trillion away globally
DonaldDuck thinks he has supreme control over Wall Street-So he can blow it up now-& later-closer to the 2020Election -He Believes, 'Humpty-Dumpty-who had a Great Fall' can all be put together again! At such a Price-will Donald be so easily replaced-but at such Cost to US All!
Trump is already used to losing billions and calling himself a winner, so this isnt any different.
Hang in there America, this should have Been done a long time ago!
We're tracking the economic impact of U.S. tariffs and retaliatory actions:
To whom to give thanks...
So much winning!
Perspective:
Now that Trump intentionally tanked the market is he buying at the low? Latter this week is going to say something to cause it to bounce back so he can make a killing when he sells?
I don't care
Down 600 points - and it's only Monday. How's that republican Pres workin for ya now?
It's still Obama's economy when it soars, but Trump's when it tanks.
Make it in a,Erica, hire Americans F China.
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