U.S. markets reeling after China hits back


mentalfloss
#1
America used to be great not that long ago.

Now, losing 700 points happens every week!


U.S. markets reeling amid Trump tweets, escalating trade war with China

WASHINGTON—Stocks dropped Monday as technology companies came under fire and fears grew about a trade war with China.

It was a broad sell-off: The Dow Jones industrial average plunged more than 700 points, or 3 per cent, in afternoon trading. The Standard & Poor’s 500-stock index was down 3.2 per cent and the tech-heavy Nasdaq Composite was down 3.5 per cent as volatility continues to rock markets.

All three indexes are negative for the year and are in correction territory. A correction is generally considered a 10 per cent drop from its peak.

Eight of the 11 stock sectors are on pace to close in correction territory Monday. Energy was leading the downhill march, followed by consumer staples, financial services, industrials and information technology.

In Canada, the Toronto Stock Exchange’s S&P/TSX composite index was also down. By mid afternoon it had fallen 195 points, or 1.3 per cent.

China’s government said on Sunday that it would immediately impose tariffs on 128 U.S. commodities it imports in retaliation for U.S. President Donald Trump’s levies on steel and aluminum. The tax on U.S. goods could span pork, soybeans and fruit as well as aircraft.

https://www.thestar.com/news/world/2...-products.html
 
White_Unifier
-1
#2
Let's see which side can shoot itself in the foot and cause the most damage between the two. I'm betting on Trump for that, but I'm sure China will hurt itself too.
 
Twila
+1 / -1
#3
Quote: Originally Posted by White_Unifier View Post

Let's see which side can shoot itself in the foot and cause the most damage between the two. I'm betting on Trump for that, but I'm sure China will hurt itself too.

China still have the rest of the world to trade with.

trump doesn't.
 
White_Unifier
#4
Quote: Originally Posted by Twila View Post

China still have the rest of the world to trade with.

trump doesn't.

I agree. Trump is launching a trade war against everyone, China against the US. China is still hurting itself by playing this foolish game, but Trump is causing far more damage to his country than China is to its.

If China's strategy is to play a game of chicken with the US to see which side can tolerate the most economic pain before blinking, China will win unless the US is really foolish. Like you said, at least China can trade with the rest of the world.
 
Twila
+2 / -1
#5
Quote: Originally Posted by White_Unifier View Post

I agree. Trump is launching a trade war against everyone, China against the US. China is still hurting itself by playing this foolish game, but Trump is causing far more damage to his country than China is to its.

If China's strategy is to play a game of chicken with the US to see which side can tolerate the most economic pain before blinking, China will win unless the US is really foolish. Like you said, at least China can trade with the rest of the world.

the US is playing chicken. China is forced to re-act. While re-acting they WILL seek better business deals and leave the US behind. As will all countries the US decides to play this game with. It is becoming trump against the world and the US is the one that'll pay for the heaviest price.
 
Bar Sinister
No Party Affiliation
#6
China is targeting the US strategically. Soybeans have been hammered. Guess how the states that grow soybeans voted in 2016.
 
mentalfloss
#7
Quote: Originally Posted by Twila View Post

China still have the rest of the world to trade with.

trump doesn't.

Trump's a moron.
 
petros
+2
#8
I see Tesla is down $18 today... so far.
 
pgs
Free Thinker
+3
#9
Quote: Originally Posted by petros View Post

I see Tesla is down $18 today... so far.

BarSinister must have cancelled his order .
 
Danbones
Free Thinker
+1
#10
Yes the chinese made an electric car run someone over.

so how are they going to fix drivers that are worse than the robots?

PS:
I hope the Chinese do well with soy. Soy will kill you with cancer.

soybeans, milk, tofu, edamame, soy protein, meat, oil and infant formula:
- New research has suggested that soy products are linked to breast cancer in some women, affects brain function in men, can alter sexual development (including fertility), and can lead to hidden developmental abnormalities in infants.

- Soy products contain inhibitors of thyroid function (leading to hyperthyroidism). This is due to the 'Goitrogens', substances that block thyroid function.

- Soy has been linked to the blood clotting (red blood cell clumping) 'hermagglutinin'.

- Soy products could contain toxic levels of aluminum and manganese. This is because some soy products are processed through acid washing in aluminum tanks. Soy products are 80 times higher in manganese than breast milk.

- Reportedly, soybeans contain an anti-nutrient called "phytic acid", which may block absorption of certain minerals, including magnesium, calcium, iron and zinc.

- Soy is said to contain a natural chemical that acts like female estrogen. It is said that just 2 glasses of soy/ day can even alter a woman's menstrual cycle in regards to timing, and frequency.

- Up to 95% of soy products are genetically modified (when buying, look for 'non-GMO', organic soy products).

- Soybeans also contain potent enzyme-inhibitors. These inhibitors block uptake of trypsin and other enzymes which the body needs for protein digestion. Normal cooking does not de-activate these harmful anti-nutrients, which can cause serious gastric distress, reduced protein digestion and can lead to chronic deficiencies in amino acid uptake.

- There is MUCH controversy concerning soy for infant consumption. It is said that soy infant formula can greatly disrupt your growing babies sexual development and reproductive health. Some believe that one feeding of soy formula contains the same amount of estrogen as 5 birth control pills.
https://veganesseats.blogspot.ca/201...-kill-you.html

I suspect a lot of voters from the soybean (altered) states may have been the dead ones voting that we hear so much about. The chinese don't want GMO!!!!

Quote: Originally Posted by mentalfloss View Post

Trump's a moron.

Enjoy your FAKENEWS soy injections

Say, any russian collusion indictments on Trumpie yet?
Last edited by Danbones; Apr 3rd, 2018 at 09:36 AM..
 
petros
+4
#11
DJIA +188.10 (0.80%)

Taking a pounding.
 
JLM
No Party Affiliation
+1 / -1
#12
Maybe a good thing, correction is probably long overdue and it also gives investors a chance to buy in at a sane price.
 
petros
+1
#13
It's still at stellar highs.

Holy shit! PLUMMETING

23,871.09 Price increase 226.90 (0.96%)

Falling even more in the last 3 minutes.

23,872.69 Price increase 228.50 (0.97%)
Apr. 3, 11:14 a.m. EDT
 
mentalfloss
#14
China retaliates, unveils additional tariffs on $50-billion of U.S. goods
https://www.theglobeandmail.com/busi...billion-of-us/
 
taxslave
Free Thinker
#15
Quote: Originally Posted by mentalfloss View Post

China retaliates, unveils additional tariffs on $50-billion of U.S. goods
https://www.theglobeandmail.com/busi...billion-of-us/

So have rich Chinese quit buying any of these products? Since most seem to be items they can't get homemade.
 
Cannuck
No Party Affiliation
-1
#16
Quote: Originally Posted by mentalfloss View Post

Trump's a moron.

Not really. He's getting what he wants. The morons are the ones who support him
 
Walter
+4
#17
Quote: Originally Posted by Twila View Post

China still have the rest of the world to trade with.

trump doesn't.

Canada is the US' biggest trading partner. The US can beat China to the ground economically if it wants to.

Quote: Originally Posted by Bar Sinister View Post

China is targeting the US strategically. Soybeans have been hammered. Guess how the states that grow soybeans voted in 2016.

Tell us.

Quote: Originally Posted by Cannuck View Post

Not really. He's getting what he wants. The morons are the ones who support him

Yer triggered again.
 
JLM
No Party Affiliation
+2 / -1
#18
As is generally the case they will be back in the plus in a day or do. Buyers better buy!
 
Hoid
+2
#19
lol America beating China to the ground economically.

China is the Xanadu you mindless feebs.
 
Twila
+3
#20
trump wants an agreement in principle on nafta done up right away. Politics doesn't operate like business' do. China has the rest of the planet to sell and buy from. America seems to be that kid on the play ground who tries to control every aspect of play that nobody will play with him.
 
White_Unifier
+3 / -1
#21
Quote: Originally Posted by Twila View Post

trump wants an agreement in principle on nafta done up right away. Politics doesn't operate like business' do. China has the rest of the planet to sell and buy from. America seems to be that kid on the play ground who tries to control every aspect of play that nobody will play with him.

And that's why the US will hurt far more than China will. For China, it's just a self-inflicted flesh wound. For the US, it's a self-inflicted amputation.
Last edited by White_Unifier; Apr 4th, 2018 at 10:33 AM..
 
Hoid
+1 / -1
#22
America's 3 biggest trade partners are:

China

Canada

Mexico

America has unilaterally suspended NAFTA and initiated a trade war with China.

America is a reality tv show now.
 
JLM
No Party Affiliation
+1 / -2
#23
Quote: Originally Posted by Twila View Post

trump wants an agreement in principle on nafta done up right away. Politics doesn't operate like business' do. China has the rest of the planet to sell and buy from. America seems to be that kid on the play ground who tries to control every aspect of play that nobody will play with him.

Poor old Trump, he just can't win. Up until now he's been accused of balking at Nafta, now he's criticised for trying to expedite it. Maybe he should just announce the exact day, hour and minute!
 
Twila
-1
#24
Quote: Originally Posted by Hoid View Post

America's 3 biggest trade partners are:

China

Canada

Mexico

America has unilaterally suspended NAFTA and initiated a trade war with China.

America is a reality tv show now.

Business in the US is clearly vastly different then politics on a world stage, eh? who'd have thunk it, besides everyone but trump and his supporters...

Quote: Originally Posted by JLM View Post

Poor old Trump, he just can't win. Up until now he's been accused of balking at Nafta, now he's criticised for trying to expedite it. Maybe he should just announce the exact day, hour and minute!

nobody has complained he was balking. they complained that he wanted to visit it. Do you see the difference between those 2 statements? they mean very different things. They are not the same. You see that now, surely?
 
Curious Cdn
Conservative
+1
#25
Quote: Originally Posted by JLM View Post

Poor old Trump, he just can't win. Up until now he's been accused of balking at Nafta, now he's criticised for trying to expedite it. Maybe he should just announce the exact day, hour and minute!

Trump wants NAFTA NOW on HIS terms. Who the hell here in Canada wants Trump to win?
 
Cannuck
No Party Affiliation
#26
Quote: Originally Posted by Walter View Post

Yer triggered again.

No. I didn't vote for Trump
 
White_Unifier
+2
#27
Quote: Originally Posted by Curious Cdn View Post

Trump wants NAFTA NOW on HIS terms. Who the hell here in Canada wants Trump to win?

In trade agreements, if one side 'wins,' both sides lose. Trump doesn't seem to understand that. It's just like in a marriage.
 
captain morgan
Bloc Québécois
#28
Quote: Originally Posted by White_Unifier View Post

And that's why the US will hurt far more than China will. For China, it's just a self-inflicted flesh wound. For the US, it's a self-inflicted amputation.

China has more power in this trade war, not only due to them being the largest low cost supplier of goods to the US but also by virtue of the debt held by the Chinese of US bonds/t-bills.

They are in a strong position to impact inflation in the US and potentially manipulate the USD
 
petros
+2
#29
Who funded China's manufacturing boom? USA.

How much does China still owe?

Without raw materials WTF are they going to produce?

Quote: Originally Posted by petros View Post

It's still at stellar highs.

Holy shit! PLUMMETING

23,871.09 Price increase 226.90 (0.96%)

Falling even more in the last 3 minutes.

23,872.69 Price increase 228.50 (0.97%)
Apr. 3, 11:14 a.m. EDT

24,014 right now...still plummeting.
 
White_Unifier
#30
Quote: Originally Posted by captain morgan View Post

China has more power in this trade war, not only due to them being the largest low cost supplier of goods to the US but also by virtue of the debt held by the Chinese of US bonds/t-bills.

They are in a strong position to impact inflation in the US and potentially manipulate the USD

If the debt is in US dollars, the US could circumvent that at least somewhat just by inflating its currency, bearing in mind that that would hurt the US too.

But if the US is in a trade war with the world while China is in a trade war with the US only, then like others have said, at least it can trade with others. The US is burning bridges all around itself with Canada and Mexico too. China will suffer and so will Canada, but at least we can control the damage or reduce the harm somewhat by trading with others. The US will take the brunt of the pain on itself.

Canada should still try to trade with the US but recognize that we can't force an unwilling state to trade with us. That means Canada absolutely needs to promote free trade with other states too.
 

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