The stock market stumbled Friday to its first losing month of 2019 in May, primarily due to President Donald Trump's decision to broadly wield his tariff powers, first against China over trade and then against Mexico over immigration.
It was only a month ago that the S&P 500 hit a record high and underlined its claim as the longest bull market for stocks on record, at more than a decade long. The market had climbed steadily through 2019 amid rising investor confidence that a deal with China was at hand and that the Federal Reserve would not tip the economy into recession by raising interest rates too aggressively.
The S&P 500 index fell 36.80 points, or 1.3%, to 2,752.06. It's the first time the S&P 500 has dropped for four straight weeks since autumn 2014. The new tariffs on Mexican goods shocked investors who were already nervous about a global trade war crimping economic growth. Energy companies sank following another broad slide in oil prices. Occidental Petroleum fell 4.1% and Valero Energy dropped 3.4%.
Economists say China may be drawing up its own list of retaliatory targets among U.S. companies. The worry is that a trade war fought on multiple fronts around the world will be a drag on corporate profits and on a U.S. economy that's been supported by a solid job market.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Not a comment from Trump or his sons? Oh, I forget, they only take credit when the stock market is up!
In other words, the trump train wreck is making the stock market awfully painful right now for investors, but now is a spectacular time to buy stocks bc they are less pricey. **cough NBEV cough**
wrong link
Remember when Obama weaponized the IRS against conservatives Does anyone think he didn't weaponize intelligence agencies against a Presidential candidate
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks Fall as Trump’s Mexico Tariff Threat Rattles MarketsStocks and bond yields fell after President Trump threatened to impose escalating tariffs on Mexico, exacerbating growth concerns in an edgy market.
Source: WSJ - 🏆 98. / 63 Read more »
Global stocks drop on fears of expanding trade warEuropean shares sink to a more than three-month low, with carmakers taking the hardest hit, as Trump stokes trade tensions THE PLAN -walked away UN, shun our EU Allies, befriend Dicktators, MISSING minor children illegals, selling guns to admitted terrorist supported countries, NOT denouncing the brutalsaw up bodykilling of journalist, the many failed court rulings on his atrocities -ALL ALONG
Source: Reuters - 🏆 2. / 97 Read more »
Stocks rise slightly, but trade and economy worries persistStocks closed slightly higher for the first time all week, with the Dow gaining 0.17% and the Nasdaq rising 0.27%. The S&P 500 closed about 0.2% higher, with real estate, health care and consumer discretionary performing best.
Source: CNBC - 🏆 12. / 72 Read more »
Why the worst may be yet to come for stocks as trade war tensions persistBNY Mellon's Alicia Levine believes Wall Street is making a big mistake when it comes to the trade war. I want to know where the heck is he getting a gallon of milk for $1.50 ? Decline in milk consumption. The rest is BS.
Source: CNBC - 🏆 12. / 72 Read more »
Global stocks to keep climbing but trade war a major hurdle: Reuters PollGlobal stocks will continue their march to higher ground but an escalation of th...
Source: Reuters - 🏆 2. / 97 Read more »
Fears of prolonged trade war weigh on Asia stocks; bonds rallyAsian stocks tracked Wall Street losses on Thursday as the latest exchanges betw... AFRICAN MUST TIMELY.
Source: Reuters - 🏆 2. / 97 Read more »
Oil prices rise on fall in U.S. crude stocks, but trade war worries cap gainsOil prices rose on Thursday after a bigger-than-expected decline in U.S. crude i...
Source: Reuters - 🏆 2. / 97 Read more »
Oil rises on declining U.S. crude stocks, but trade war worries lingerOil prices rose on Thursday after an industry report showed a bigger-than-expect... We are on a economic rollercoaster ride. My IRA is flat & back where it was when Trump took office. Under Obama I had slow but steady sustained gains for 5 years.
Source: Reuters - 🏆 2. / 97 Read more »
Time to Take Money Out of Indian StocksModi mania has made the country’s stock market one of the world’s most expensive, but the road is still likely to be bumpier than investors imagine. Thanks What? bcchristopher Abhishekkar_
Source: WSJ - 🏆 98. / 63 Read more »
Stocks making the biggest moves after hours: Workday, Inovio and moreSee which stocks are posting big moves after the bell on Tuesday, May 28. Whyyy I had two hours of overtime and said I just need to enter it as two hours of overtime but she said I needed to enter it as 42 hours in that work week so then I got paid for 42 hours of overtime. Me and my boss got up into a fight about how to put the overtime in on workday.
Source: CNBC - 🏆 12. / 72 Read more »
Retailers report; Stocks slide; Exxon meetingToday’s top business headlines with ChristineRomans before the opening bell on Wall Street: ChristineRomans occhio ad un titolo interessante AOL Time Warne ChristineRomans BREAKING NEWS despite stimulus of Chinese government corruption in China took toll- collapse of bad loans. US government put blacklisted Huawei-no export of US software & components. 5G equipment coming from Japan&Erickson WednesdayWisdom ChristineRomans Great news, more manufacturing jobs. Stanley Black & Decker announces North Texas plant, 500 jobs FactsFirst
Source: CNN - 🏆 4. / 95 Read more »