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He also talked about a cut in tariffs on car imports and an improvement in protection of intellectual property, among other measures. Monday and Friday saw significant drawdowns, while the middle of the week saw positive returns.
That said Wednesday was quite the day with a big swing from losses to gains — doubt we had a single day like that in all of ! So keeping track — Trump did tariffs on steel and aluminum; then mostly exempted almost every major country who imports those items into the U. So a lot of bluster, but in the end it was focused on China.
Then to start this week China retaliated with tariffs on pork and fruit , among other things. The rest of the week was very choppy with a big drawdown Tuesday and a rally into the holiday Thursday. Needless to say the benign and calm market of is long gone and with it a historical level of non volatility. This was the first quarterly loss That despite the Facebook mess late in the quarter and the selloff of some of places every hedge and mutual fund is hiding in Google, Apple, Facebook, Netflix, etc.
So the market reacts to the bluster. Meanwhile quietly China and the U. China and the U. Economic news was light — The annualized pace of growth in the economy in the fourth quarter of was boosted to 2. Whatever the case, the market suffered badly this past week. The Trump administration instructed the office of the U. The tariffs are expected to target sensitive technologies that the U. Investors are concerns that protectionist trade policies could be met with retaliatory measures by major trading partners, and that a trade war could contribute to inflation in the economy.
China stopped short of penalties on the biggest pawns in a potential trade war, leaving off soybeans, sorghum and Boeing aircraft. Nice article from Bloomberg on the topic here. Indexes were coming off a massive week and entered this past week somewhat overbought, so certainly were due for some sort of rest. While most of this political mumbo jumbo stuff is not really market moving for more than a hot minute while the algorithms scramble to react, it is worth noting the movement in key economic positions.
Trump said Wednesday his administration will seek to trim the U. It shows the top export of every country — click on the graphic to expand it. As interesting, globally you see so much focus on natural resources or food…. As interesting, globally you see so much focus on natural resources or food… Continue reading.