Surprise threat from Trump to raise tariffs sinks stocks

U.S. stocks fell in morning trading Monday, following a sell-off in Europe and Asia, after President Donald Trump threatened to escalate a trade war between the world's two largest economies.

The Dow Jones Industrial Average fell 195 points, or 0.7%, as of 11:22 a.m. It was down as much as 471 in the first few minutes of trading.Trump on Sunday threatened to raise tariffs on imports from China to 25% from 10% after complaining that trade talks were moving too slowly. He also threatened to impose tariffs on another $325 billion in imports from China, covering everything the country ships annually to the United States.U.S.

Wynn Resorts, with a host of casinos and hotels in Macau, gets about 75% of its revenue from China, according Its stock tumbled 4.8%. Oil prices, which have been steadily rising all year, fell slightly. Benchmark U.S. crude lost 0.2% per barrel. "We see the weekend's developments as a negative catalyst for the market, not only because of where investor expectations have been regarding the deal, but because of the downward earnings revisions that are likely to occur if the tariffs are expanded," said Lori Calvasina, head of U.S. equity strategy at RBC Capital, in a note to clients.

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The ever capricious TRump tweets before he thinks about the consequences of his actions. I think he enjoys that havoc he causes since he's so good at it.

Could we just get rid of this idiot. More people out of work. Wonderful economy.

Thanks POTUS

I guess they don't buy Joe Biden's assessment of China as unimportant

*Trump tweets.... massive global market swing* Now what was that about leverage? 🤔

Who would want to invest in this economy before a trade agreement with China is finalized and official?

China's market is hemorrhaging 🇺🇸

Fair trade or tariffs 🇺🇸

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Trump escalates trade war just as investors were starting to believe in stocks and economy againProfessional investor positioning and sentiment now reflects a broad acceptance of a resilient U.S. economy and the chance for further upside in the indexes through the year michaelsantoli FreeTibet FreeTaiwan Kundun Absolutely planned by realDonaldTrump No other explanation. This has nothing to do with the trade deal and everything about market manipulation. Poor babies cant sell to 401k customers at the top....Stop crying and help MAGA.
Source: CNBC - 🏆 12. / 72 Read more »