MARKET SNAPSHOT: Dow Drops Over 500 Points After Trump Says U.S. Companies Must Look For 'alternativ [View all]
Source: Morning Star
MARKET SNAPSHOT: Dow Drops Over 500 Points After Trump Says U.S. Companies Must Look For 'alternative To China'
Fed's Powell leaves door open to rate cut, but gets blasted by Trump as 'enemy'
Stocks tumbled Friday as the U.S.-China trade war took a sharper turn, with President Donald Trump saying he's ordering American companies to start looking for "an alternative to China," while readying additional measures after Beijing imposed retaliatory tariffs on imports of U.S. goods.
Earlier, the major indexes flipped between modest gains and losses after Federal Reserve Chairman Jerome Powell left the door open for another interest rate cut in September in a widely anticipated speech in Jackson Hole, Wyoming.
Read more: https://www.morningstar.com/news/dow-jones/201908236360/market-snapshot-dow-drops-over-500-points-after-trump-says-us-companies-must-look-for-alternative-to-china
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