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I think one of the things history will remember Trump for, beyond his general incompetence, is turning what was heating up to be a booming economy into a nasty recession. The US economy has a lot of moving parts and thus it has taken a while to shift course. But, cracks are starting to show and the true "Trump economy" is about to rear its ugly head.
Perhaps we can have another payday loan tax cut to goose the stock market numbers.
Hard to say what will actually happen, but DOW futures (at least at the moment) are pointing towards an additional 450 pt loss at the open. Looks like it may be yet another really rough day for stocks. We'll find out in a few more hours. Things can change of course, but right now it's not looking good.
Apparently DOW futures were looking so scary overnight that DOW futures trading was temporarily halted. Futures are notoriously fickle though so we'll just have to see what's going to happen.
"Trading in US stock futures had to be halted after violent moves, and markets are spooked
The world's largest futures exchange, CME Group, had to repeatedly halt trading in US stock futures for brief periods this morning because of violent price moves, in an unusual intervention that has stunned traders...."
Apparently DOW futures were looking so scary overnight that DOW futures trading was temporarily halted. Futures are notoriously fickle though so we'll just have to see what's going to happen.
"Trading in US stock futures had to be halted after violent moves, and markets are spooked
The world's largest futures exchange, CME Group, had to repeatedly halt trading in US stock futures for brief periods this morning because of violent price moves, in an unusual intervention that has stunned traders...."
Markets are worried that the arrest of the Huawei CFO will lead to further escalation of Trump's trade war. She is wanted in the US for violating US sanctions about trading with Iran after Trump pulled out of the multi-nation agreement - yet another stupid move by Trump. This one is indirect but yet another example of how Tariff Man is ruining the global economy with his blundering.
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