Jump to content
Bitcoin/Tech Community
Sign in to follow this  

#MoneyBeat See Markets Sell Off on Trade Fears in Five Charts

Recommended Posts

NocRoom    0

U.S. stocks’ selloff intensified in afternoon trade Friday as fears mount about the impacts of a trade spat between the U.S. and China.

Markets started the day on the back foot, with the S&P 500 and Dow industrials falling at the opening bell. The U.S. threatened late Thursday to impose an additional $100 billion in penalties on Chinese goods. The move would triple the amount of Chinese goods facing levies when entering the U.S., up from the tariffs on $50 billion in imports from China that the president announced last week.

China hit back Friday, vowing strong retaliation against the U.S.

Stock losses accelerated Friday after Treasury Secretary Steven Mnuchin said in an interview on CNBC that the U.S. is willing to negotiate with China but warned there is “the potential of a trade war.”

“On the one hand, we’re willing to continue negotiations,” Mr. Mnuchin said during the interview. “On the other hand, the president is absolutely prepared to defend our interests.”

Here’s a snapshot of markets Friday.

Industrial companies such as Boeing and Caterpillar are leading declines. Those companies have been under pressure recently due to their exposure to global trade and China’s proposed tariffs.

The yield on the 10-year Treasury note also declined as investors sought safety in government bonds. A weaker-than-expected U.S. jobs report has also weighed on Treasury yields by dimming expectations for tighter U.S. monetary policy.

Wall Street’s “fear gauge,” the CBOE Volatility Index, spiked.

While the dollar also slipped on trade war fears and the disappointing jobs data.


View the full article

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this