$1,400,000,000,000 Gone In Less Than A Week – Stock Market In Turmoil As The Trade War Dramatically Escalates
Our trade war with China has begun to spiral out of control, and as a result global financial markets have been thrown into a state of turmoil. On Monday, the Dow Jones Industrial Average fell 767 points, and that represented the sixth-largest single day stock market decline in all of U.S. history. To put that into perspective, the biggest single day decline during the financial crisis of 2008 was just 777 points. So what we witnessed on Monday was definitely very serious. And the Nasdaq just got absolutely monkey-hammered as well. On a percentage basis, it was down even more than the Dow was, and it has now fallen for six days in a row. We have not seen a losing streak that long for the Nasdaq since President Trump was elected, and some analysts are convinced that even more chaos is on the way.
Overall, 1.4 trillion dollars in stock market wealth has been completely wiped out in less than a week…
It took just four brutal trading days for a $1.4 trillion wipeout in the S&P 500 stock value. From the Federal Reserve’s disappointing comments on the future of interest rates to President Donald Trump’s surprise tariffs to China’s weaponizing of the yuan, the record-long bull market took a big hit in a relatively short time.
European stocks have been getting clobbered as well. In fact, they just experienced their largest two day decline in three years.
After Trump imposed another wave of tariffs on China at the end of last week, we knew that the Chinese would retaliate. But we expected that the retaliation would be at least somewhat proportional.
Instead, they decided to bring down the hammer.
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