The Dow closed down 799 points on Tuesday after it appeared that there really was no China trade deal like Trump said. Yesterday, the market was closed due to Bush 41’s funeral (in which it became all about Trump, because as everyone eulogized Bush 41, it was obvious that these were things nobody would say at Trump’s funeral.)
And do how about today?
BREAKING: Stocks plunge as arrest of Chinese tech executive sparks fears of escalating US-China tensions; Dow drops 430 points .— The Associated Press (@AP) December 6, 2018
That coincides with other bad economic news:
U.S. trade deficit jumps to 10-year high, the govt says. A plunge in farm exports (because of tariff war) to blame, along with a surge in imports, as consumers spend more. U.S. trade gap has now widened for five straight months— West Wing Reports (@WestWingReport) December 6, 2018
BREAKING: Record imports drive US trade deficit to $55.5 billion in October, highest in a decade.— The Associated Press (@AP) December 6, 2018
Let’s quote our president now: “Trade wars are good and easy to win”
UPDATE — it’s almost 9:50 am and stocks are rebounding a little. Still down 380 points. Dow is at 24674.90. It started the year at 24824.01.
UPDATE #2 — Last hour rebound saves the day. Only down less than 79, but talk about volatility!