The biggest question I am getting this morning is “Why aren’t global stock markets in free fall” now that the United States has made good on its tariff threat?
It’s a good question. These next days are crucial. The benchmark Standard and Poor’s 500 has been down four days in a row and futures are indicated lower again today, but the index is still relatively close to record highs.
Markets are still hoping for a resolution and seem to believe the president has a lot more leverage to get the Chinese back to their earlier promises.
That leverage: even more Chinese goods to tax. The president Thursday and again this morning said the “paperwork” has begun to slap 25% tariffs on another $325 billion in Chinese goods.
But I would call market stability here tenuous. Talks begin again at 9 am in Washington and it is unclear whether either side will budge. And the president is tweeting this morning his support for tariffs over a trade deal. Unclear if that is a negotiating ploy, or he is paving the way for the reality after talks break down for good.
https://www.cnn.com/business/live-news/stock-market-news-today-051019/index.html
2019-05-10 11:31:00Z
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