Dow drops 400 points, biggest fall in 2 months, after Trump says he could wait on China deal

[crazytown]

Source: CNBC

U.S. equities sank on Tuesday after President Donald Trump suggested he may want to delay a trade deal with China until after the 2020 presidential election.

The Dow Jones Industrial Average fell more than 400 points in morning trading, led lower by trade-vulnerable Apple, Caterpillar and 3M. The S&P 500 slid 1% amid losses in chip stocks like Nvidia, Micron and Advanced Micro Devices. The Nasdaq Composite also lost 1%.

Markets hit the lows of their day after Fox News reported that the White House still plans on moving ahead with scheduled Dec. 15 tariffs on Chinese goods notwithstanding recent efforts at a “phase one” trade truce.

“In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right,” Trump told reporters earlier on Tuesday. When asked if he had a deal deadline, he added: “I have no deadline, no ... In some ways, I think it is better to wait until after the election if you want to know the truth.”


Read more: https://www.cnbc.com/2019/12/03/stock-market-wall-street-in-focus-amid-south-america-trade-tariffs.html

[rzemanfl]

1. Manipulating the market for his rich pals again. The motherfucker. n/t

[Mickju]

3. Exactly!

[groundloop]

4. I hope someone is figuring out who's profiting from these market swings

Dirty Donny has instigated large swings in the market with his remarks, some of which have turned out to be total fabrications. It's just not possible this is a total fluke.

[Bernardo de La Paz]

12. Profits like 1.8 & 1.5 billion dollars. Vanity Fair & William Cohan on the case. Report on DU:

https://www.democraticunderground.com/10142382872

One windfall, in particular, triggered Twitter TWTR, -1.13% buzz. On June 28, a trader, or group of traders, snatched up 420,000 September e-minis, which amounted to about 40% of the total trading volume, shortly before the closing bell. Trump the following weekend emerged from a meeting with President Xi to say the trade talks were “back on track.” The market cheered the announcement and stocks rallied enough to apparently turn that trade into a $1.8 billion profit.

...

Nevertheless, Cohan says it’s time for action for authorities, starting with a look at this particular scenario: “In the last 10 minutes of trading on Friday, Aug. 23, as the markets were roiling in the face of more bad trade news, someone bought 386,000 September e-minis. Three days later, Trump lied about getting a call from China to restart the trade talks, and the S&P 500 index SPX, +0.29% shot up nearly 80 points. The potential profit on the trade was more than $1.5 billion.”

[IronLionZion]

9. One would think more people would catch on by now

he does it on purpose so his buddies can buy low. Whenever the market hits highs, they sell and take their profits. Then douchebag announces more tariffs or some trade war BS causing it to dip.

[MelissaB]

10. Exactly my thought when I read this.

[jeffreyi]

17. I was just gonna say...

You beat me to it.
Diaper Donnie has done this a number of times.

[Mike 03]

2. And last night Kellyanne said a deal, "is totally up to China, it's up to China"...

and this morning Trump roared that a deal "is up to me, it's totally up to me." Idiots straight across the board.

[bucolic_frolic]

5. Play those swing ETFs

YINN and YANG. Long YINN In the $14-15s, out at $21-24, when it's time to YANG, out YANG when YINN hits $15. Rinse and repeat.

Surely some Trump cronies have figured this out

[duforsure]

6. This is likely closer to the truth

China said F. Y to not do a deal with him to hurt him with it before the election , and get someone who they CAN work with and believe. This is just more trump propaganda , and not the truth, and to make him look good with claiming now he'd rather wait until after the election. Liar trump has China refusing anything to do with him knowing he won't keep any deal agreed to , and will then raise more excuses to use to demand more, and like he's done over and over again with his business deals. They know he's a con man and a fraud , and should never be trusted. Others should do the same with him, and demand someone else in his position openly.

[PatSeg]

7. He's done this sort of thing before

This wasn't just an off-the-cuff Tweet. Someone(s) is making a profit by selling short. The most corrupt president ever.

[beachbumbob]

8. all about market manipulation and finding those who are getting advance notice to short

but alas, the SEC is pretty much worthless under the trump admin

[DENVERPOPS]

16. Agree

so are others: EPA, FEC, USDA, DOJ, SCOTUS and many more.......

[Wellstone ruled]

11. Xi is not going to kiss Moscow Don's

fat ass period. China is not going to worry about these Tariff's,because they have already done work around's.

Interesting story about Pork buys in the amount of 25 billion over ten years. Well,several Chinese investment companies own the US largest Pork producer and processor. Duh,again the media pumps crap with a incomplete story.

[question everything]

13. Someone made a comment that Trump kinda enjoy causing the market moves

What a creep.

[Vinca]

14. Tomorrow he'll change his tune and his cronies will make a bundle.

I swear I should try my hand at day trading while Trump is in office. It's so predictable.

[titaniumsalute]

15. What Trump really means

"I really fucked things up, we have no idea how to fix them, let's wait until after the election and I promise I'll fix it then."

[CountAllVotes]

18. Exactly

Leave this fine mess to the next occupant of the Oval Office no doubt!



& recommend.

[ck4829]

19. Kick

[Stuart G]

20. The Original Post is from December the 3rd, Today is December 10..

This is not, repeat not, the Latest News..The market has not ....repeat not fallen 400 points today. The market is pretty even today.

First sentence in original post implies that the 400 point drop is ...Today.. That happened a week ago..NOT TODAY...

[RussBLib]

21. Thanks. I was wondering....n/t