Stock futures plunge, with the Dow set for a nearly 500 point drop, after China announces tariffs
Source: CNBC
U.S. stock index futures tumbled ahead of Wednesday's open, as concerns over a potential trade war between the U.S. and China intensified.
Around 7:30 a.m. ET, Dow Jones industrial average futures indicated a drop of 460 points at the start of trading in New York. The Nasdaq 100 and the S&P 500 futures also indicated heavy losses at the open for their respective markets.
The moves in premarket trade come as China announced brand-new tariffs on 106 U.S. products, including cars, whiskey, aerospace and defense, and soybeans.
"I think the market is just concerned about this thing escalating right now," James Paulsen, chief investment strategist at The Leuthold Group, told CNBC's "Squawk Box." "It's not so bad if we have a few tariffs on a few products, but if it escalates worldwide,
then you're really threatening the recovery globally."
Read more: https://www.cnbc.com/2018/04/04/us-stock-futures-dow-data-trade-tech-and-politics-in-focus.html
dlk
(11,589 posts)How did Republicans ever get their reputation for being so much better in business? The facts state otherwise. It all goes back to messaging--Republicans beat Democrats, hand down.
Dave Starsky
(5,914 posts)Bolstered 24/7 by our worthless corporate-owned media.
The same way they became the party of "family values". What a fucking joke that is and has always been.
Johnny2X2X
(19,240 posts)This is posturing from the US and China who both are looking to strengthen their negotiating positions and show strength to the other side. It's going to be a bumpy ride. If negotiations fail, the Trade War is on. China is more prepared to go the distance in this IMO and will likely win the negotiations. Trump will get a couple minor concessions from China and claim a massive victory, he has too much to lose if he doesn't get a deal.
This is all really totally unnecessary. We could work on a better deal without putting the World economy in jeopardy.
Be very very careful, Trump is using dictator tactics again here. He wants to create an unnecessary crisis for the world so he can play the hero by averting it. The only problem is that China likely sees through all of it and is willing to call his bluff and go the distance.
Achilleaze
(15,543 posts)sick and sad.
* aka republican Draft-Dodger-in-Chief
forgotmylogin
(7,539 posts)He thinks he's going to fix things. "NATO NEEDS TO MAKE PAYMENTS" "FOREIGN PRODUCTS NEED MORE TARIFFS"
I suspect he's going to find out there's a reason previous Presidents haven't "fixed" the economy using his "so easy" methods.
scarytomcat
(1,706 posts)the market is fluctuating but generally moving higher
the market has never been a good indicator of the strength of the economy
debit will be what puts the brakes on, government and personal
we can not continue to add debit
uncle ray
(3,157 posts)former9thward
(32,111 posts)scarytomcat
(1,706 posts)my spot checking has looked like more up than down
but if you have the numbers I will go with it
scarytomcat
(1,706 posts)the high was Jan 26 it was 26,616