{"id":33102,"date":"2018-04-04T06:38:39","date_gmt":"2018-04-04T11:38:39","guid":{"rendered":"http:\/\/olduvai.ca\/?p=33102"},"modified":"2018-04-04T06:38:39","modified_gmt":"2018-04-04T11:38:39","slug":"dow-plunges-600-global-markets-tank-after-china-retaliates-in-all-out-trade-war","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=33102","title":{"rendered":"Dow Plunges 600, Global Markets Tank After China Retaliates In All-Out Trade War"},"content":{"rendered":"<div id=\"block-zerohedge-page-title\" class=\"block block-core block-page-title-block\">\n<h3 class=\"page-title\"><span class=\"field field--name-title field--type-string field--label-hidden\"><a href=\"https:\/\/www.zerohedge.com\/news\/2018-04-04\/dow-plunges-600-global-markets-tank-after-china-retaliates-all-out-trade-war\">Dow Plunges 600, Global Markets Tank After China Retaliates In All-Out Trade War<\/a><\/span><\/h3>\n<\/div>\n<div id=\"block-zerohedge-content\" class=\"block block-system block-system-main-block\">\n<article class=\"node node--type-article node--sticky node--view-mode-full\" role=\"article\">\n<div class=\"node__content\">\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>So much for yesterday&#8217;s Amazon bounce.<\/p>\n<p>Just before 4AM EDT, a Bloomberg headline hit which has not only unleashed a furious global selling wave, sending the S&amp;P lower by nearly 2% and the Dow 600 lower, but may have changed the course of history: <strong>that&#8217;s when China announced it was <a href=\"https:\/\/www.zerohedge.com\/news\/2018-04-04\/all-out-trade-war-china-strikes-back-25-tariffs-50bn-us-imports\">striking back\u00a0 <\/a>in the ever faster and more furious trade war between the US and China:<\/strong><\/p>\n<ul>\n<li><strong><a href=\"https:\/\/www.zerohedge.com\/news\/2018-04-04\/all-out-trade-war-china-strikes-back-25-tariffs-50bn-us-imports\">CHINA PLANS RECIPROCAL TARIFFS ON $50B U.S. GOODS<\/a><\/strong><\/li>\n<\/ul>\n<p>While we <a href=\"https:\/\/www.zerohedge.com\/news\/2018-04-04\/all-out-trade-war-china-strikes-back-25-tariffs-50bn-us-imports\">detailed the response earlier<\/a>, for those who missed it, <strong>China announced it would launch reciprocal tariffs on 106 US products worth $50bln in bilateral trade<\/strong>, setting a new tariff rate of 25% on <strong>soybean, autos and chemicals<\/strong>. While the Chinese response was expected<strong>, the inclusion of soybeans was not<\/strong>, and will likely infuriate Navarro\/Trump and lead to another round of US tariffs. China Ministry of Commerce also said it would adjust tariffs on ethylene glycol and diethylene glycol sold by firms including Dow Chemical (DOW), Ineos and BASF (BAS GY) among others.<\/p>\n<p>And in an ominous warning that more is coming, China said that while its door to the US remains open for negotiations, <strong>if the US wants to keep fighting<\/strong>, <strong>China will hold onto the last, <\/strong>according to the Chinese Vice Commerce Minister.<\/p>\n<p>The result was a freefall in both S&amp;P futures, which were down nearly 50 points from Tuesday&#8217;s close&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/S%26P%20futs%204.4_0.jpg?itok=rRuG-9xM\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/S%26P%20futs%204.4_0.jpg?itok=rRuG-9xM\" data-link-option=\"0\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/S%26P%20futs%204.4_0.jpg\" srcset=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/styles\/inline_image_desktop\/public\/inline-images\/S%26P%20futs%204.4_0.jpg?itok=rRuG-9xM 1x\" alt=\"\" width=\"500\" height=\"246\" data-entity-type=\"file\" data-entity-uuid=\"60cb8330-457a-4f88-a0b7-8c1f5a6eb9d1\" data-responsive-image-style=\"inline_images\" \/><\/a><\/p>\n<p>&#8230; but also in the Dow Jones, which plunged as much as 600 points&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/djia%20futs%204.4.jpg?itok=_-6q0d_e\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/djia%20futs%204.4.jpg?itok=_-6q0d_e\" data-link-option=\"0\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/djia%20futs%204.4.jpg\" srcset=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/styles\/inline_image_desktop\/public\/inline-images\/djia%20futs%204.4.jpg?itok=_-6q0d_e 1x\" alt=\"\" width=\"500\" height=\"281\" data-entity-type=\"file\" data-entity-uuid=\"f69e87c6-7473-44ee-8edd-c0d3a2315e7b\" data-responsive-image-style=\"inline_images\" \/><\/a><\/p>\n<p>&#8230; and, of course, Emerging Markets, with the MSCI EM stock index heading for its lowest close in two months with EM currencies a sea of red across the board.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/MCSI%20EM.jpg?itok=-vOyaNR6\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/MCSI%20EM.jpg?itok=-vOyaNR6\" data-link-option=\"0\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/MCSI%20EM.jpg\" srcset=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/styles\/inline_image_desktop\/public\/inline-images\/MCSI%20EM.jpg?itok=-vOyaNR6 1x\" alt=\"\" width=\"500\" height=\"281\" data-entity-type=\"file\" data-entity-uuid=\"0540c0d9-4422-4a84-95bb-0635a2b163a2\" data-responsive-image-style=\"inline_images\" \/><\/a><\/p>\n<p>And speaking of sea of red, this is what global cash markets and futures look like right now.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dow Plunges 600, Global Markets Tank After China Retaliates In All-Out Trade War So much for yesterday&#8217;s Amazon bounce. Just before 4AM EDT, a Bloomberg headline hit which has not only unleashed a furious global selling wave, sending the S&amp;P lower by nearly 2% and the Dow 600 lower, but may have changed the course [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,7551,1849,368,9937,3222,827,4318],"class_list":["post-33102","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-dow-jones-industrial-average","tag-financial-markets","tag-global-markets","tag-tariffs","tag-trade-war","tag-united-states","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33102"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33102\/revisions"}],"predecessor-version":[{"id":33103,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33102\/revisions\/33103"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}