Dow closes more than 700 points lower on trade fears, posts worst day since Feb. 8

[grantcart]

Source: CNBC

U.S. stocks fell sharply on Thursday, pressured by worries of a potential trade war and a decline in tech shares. The broader market was also pressured by a decline in bank stocks.

The Dow Jones industrial average dropped 555 points, with Caterpillar, 3M and Boeing as the biggest decliners. The S&P 500 fell 1.9 percent, with tech, health care and financials all falling. The Nasdaq composite pulled back 1.7 percent.

Earlier, the Trump administration unveiled tariffs designed to punish China for intellectual property theft, imposing about $60 billion in retaliatory charges.

Read more: https://www.cnbc.com/2018/03/22/us-stock-futures-dow-data-fed-and-politics-on-the-agenda.html

---

The idiot has started a classic collapse of a bull market and wiped out the "FANTASTIC" gains of 2018.

He is alienating the Wall Street backing that despised him but supported him because of the tax give away. If this continues it will wipe out their profits and make the tax break pointless, while at the same time bankrupting the federal government.

All of this in order to detract from Sunday's interview with Stormy Daniels. Billions lost for an interview.

I expect to see Rod Sterling to show up any minute now.



edited to update the final headline

[Maeve]

1. Now down over 700 points eom

[mobeau69]

2. -723.31 close

Thanks dotard.

[grantcart]

3. Updated following CNBCs edit

[IronLionZion]

4. Most of the stock market rise happened before his tax cut

which made it Obama's but he took credit anyway. So who is responsible now? Hillary?

The market outlook is Stormy. I wish dude would just go back to porn stars and golf and stop messing with the economy.

[truthisfreedom]

5. So much winning! Is this the part where we get sick of it?

[BumRushDaShow]

6. And with everything that happened this week, it has gone across many sectors

Trade war, interest rate hike, Facebook (and similar social media illegal mining tech). Wouldn't be surprised if the weather impacts housing starts too.

[djacq]

7. There is a signpost ahead

Next stop, November 6, 2018

“The Mid-Term Elections”

[BumRushDaShow]

10. ...

[brooklynite]

8. No link between this and Stormy Daniels story...

That would call for strategic thinking and planning, neither of which are in his skill set.

[grantcart]

21. not but creating framing to ward off an impending news disaster is

Wait for new economic adviser to come in and have changes back and forth for a week and then he cancels it and the stock market recovers

[SCantiGOP]

9. If China dumps all of the US debt they have

Our economy will go into a panic and the market will collapse.
I’m sure Trump and Sara are already working on how to blame this on Obama and Hillary

[llmart]

11. On a positive note...

this is what it takes for some Repugs to sit up and take notice. Many of them could care less about his collusion, affairs, lying, etc. etc. etc., but when the economy starts tanking even those people will start worrying.

This is what happens when we measure the worth of our nation by economic measures only. I would like to think that our country is more than just the economy, but I'm afraid too many people have gotten brainwashed by advertising. Hell, even W.'s first response to 9/11 was "let's all go shopping".

[klook]

12. Looks like I picked the wrong week

to retire!



And to quit sniffing glue.

[ffr]

13. .

That move was a cult classic.

[kairos12]

19. HaHahha!

[Bengus81]

14. If anyone didn't know those gains since Nov 2016 weren't smoke and mirrors BS

then they haven't been paying attention. This CRASH isn't over yet.

[hibbing]

15. Larry Kudlow will fix everything...n/t

[Still In Wisconsin]

16. #MAGA!!!! WINNING!!!!!!!!!

So much winning I am sick of it.

[jmowreader]

17. I don't think we can hang this one on Stormy Daniels

No, this crash is happening the old-fashioned way: Wall Street HATES trade wars.

What might be entertaining, if you were on Mr. Robert Mueller's staff, is to correlate the list of holders of large short positions in stocks that have recently plunged with the list of major Trump supporters.

[Hermit-The-Prog]

18. Putin's puppet

TrumPutin is supposed to weaken the U.S. and its influence abroad.
This makes it easier for oligarchs to supplant democracies.

[raven mad]

20. He and his Russian buddies are trying quite hard

to bring this Nation to it's knees. Got news for ya, sTrumpet, we'll ALL "take a knee" if it'll get you the hell out of office.

[workinclasszero]

22. Everything Bone Spurs touches turns to shit!

[Yo_Mama_Been_Loggin]

23. But Trump's a financial genius

Or is he a stable genus as in a farm animal?

[paleotn]

24. Making more enemies he is....

the fake pResident that is. Hell, even the money grubbers will publicly trash him now. His circle of those willing to put up with his antics is rapidly shrinking.