A week ago it looked like a trade deal with China was in the final stretch. Pardon the mixed metaphor, but this morning, it looks like that deal is on its last legs.
President Donald Trump said in Florida last night that the Chinese "broke the deal." He called the top Chinese negotiator a “good man,” but said “they broke the deal. They can’t do that.”
The Chinese Commerce Ministry vowed unspecified "counter-measures," and the official paperwork has been filed to start collecting 25% tariffs on $200 billion in Chinese goods, starting at 12:01 am ET Friday. (Although for goods already in transit, there will be a grace period.)
This, ladies and gentlemen, is what a trade war looks like. Trade groups in the United States from retail, to computer technology, to toys and apparel fear those tariffs will be passed onto American consumers.
From a markets perspective, it is hard to see how stocks can advance without some idea of what the off-ramp is here.
The S&P 500 is down three days in a row. But gains for the year are still solid and supporters of the president’s hard line with China say the US economy is strong enough to absorb any hit from new tariffs.
https://www.cnn.com/business/live-news/stock-market-news-today-050919/index.html
2019-05-09 14:44:00Z
CBMiUGh0dHBzOi8vd3d3LmNubi5jb20vYnVzaW5lc3MvbGl2ZS1uZXdzL3N0b2NrLW1hcmtldC1uZXdzLXRvZGF5LTA1MDkxOS9pbmRleC5odG1s0gFUaHR0cHM6Ly9hbXAuY25uLmNvbS9jbm4vYnVzaW5lc3MvbGl2ZS1uZXdzL3N0b2NrLW1hcmtldC1uZXdzLXRvZGF5LTA1MDkxOS9pbmRleC5odG1s
Bagikan Berita Ini
0 Response to "What's moving markets today: Live updates - CNN"
Post a Comment