Chinese reacts to tariffs and the DOW plunges 1000 points

Trumps not only tearing this country apart socially but his crazy economics is also adding ruin to the country. The Dow plunged 1000 points then slowly eked back up to 766 before the close in response to the Chinese devaluing their currency.

All three major U.S. stock indexes lost close to 3% or more in the worst single day of trading in 2019. The Dow, which opened 400 points lower, was down 766 points, or around 2.9%, trading at 25,725.56 come the close at 4:00 p.m. Eastern Time. The S&P 500 stock index fell about 3% to 2,844, while the Nasdaq composite fell 3.4% to 7,726.

Devaluating one's currency allows Chinese manufacturers to lower the prices of their goods and raises Chinese imports.
Also, the Chinese announced that they will no longer be buying US agricultural products.

LINK

Chinese companies have halted purchases of US agricultural products, marking the latest escalation of the trade war between the United States and China. The halt in purchases comes in response to the Trump administration's announcement of new tariffs on Chinese imports last week, China's Commerce Ministry said Tuesday morning. The new 10% tariffs on $300 billion worth of Chinese imports are set to take effect on September 1.

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This will further the agony of the US farmers already hurting from Trump tariffs.

Obviously, Chinas moves have them playing hardball in Trump's tariff trade war,

and makes it a possibility that a currency war will be added to the present US/China trade war.

Dollar cost average your portfolio's.

If china breaks on this(and I believe they will) you'll be happy to have used the decline to get a bit better return on it.

It's a real "game of chicken" though, China is in worse shape, I think they will swerve first.

In a way, I never understood why we feed our enemies with nukes pointed at us. Crazy world we live in.

Actually, the overseas market is slowly collapsing because of the age of its people. This has more to do then with tariffs.
People are not having 5 kids anymore. Housing , well, in Japan we prefer to buy new, when you buy used, you are buying the land, house is fairly much free. Crazy isn't it.

a reply to: Willtell

Good. Maybe we can start making our own # again and it will last longer than a year. Trump.... Always winning.

Cool, huh
Gold and Bitcoin up and up..so fun to watch....bet on Bitcoin, not that Gold stuff, they can tax Gold at 90% yeah, stuff like that

originally posted by: musicismagic
In a way, I never understood why we feed our enemies with nukes pointed at us. Crazy world we live in.

Actually, the overseas market is slowly collapsing because of the age of its people. This has more to do then with tariffs.
People are not having 5 kids anymore. Housing , well, in Japan we prefer to buy new, when you buy used, you are buying the land, house is fairly much free. Crazy isn't it.

originally posted by: LSU2018
a reply to: Willtell

Good. Maybe we can start making our own # again and it will last longer than a year. Trump.... Always winning.

You 1 dollar underwear doesn't even last through one wash these days. Total crap. And yet we buy tons of their " fake high quality" clothing.

a reply to: Willtell

Now is the time to buy!

So we can make even more money.

originally posted by: LSU2018

originally posted by: musicismagic
In a way, I never understood why we feed our enemies with nukes pointed at us. Crazy world we live in.

Actually, the overseas market is slowly collapsing because of the age of its people. This has more to do then with tariffs.
People are not having 5 kids anymore. Housing , well, in Japan we prefer to buy new, when you buy used, you are buying the land, house is fairly much free. Crazy isn't it.

You may not know this but only Sharp TV's are still made in Japan and so is Fijitsu computers, everything else, out of Japan, just with Japanese trade names.

So if we take your rhetoric as truth and Trump's economic policy toward China has been a disaster; what do we do now ... besides take the opportunity to gloat?

Do we reverse course on the trade war with China? Hand them the win and ask them nicely to be friends again? And if we do that what will be the consequences? Will the Chinese use our admission of weakness against us? Or will they simply be chummy about it knowing that it wasn't all of America's fault, just the disgraced Donald Trump's fault?

a reply to: Willtell

Yawn. Your doomporn doesn't math up to my record wage growth.

Dow was 17.5k in 2016. It's now 26.8k.

I hope Trump keeps those losses coming.

originally posted by: musicismagic

originally posted by: LSU2018
a reply to: Willtell

Good. Maybe we can start making our own # again and it will last longer than a year. Trump.... Always winning.

You 1 dollar underwear doesn't even last through one wash these days. Total crap. And yet we buy tons of their " fake high quality" clothing.

I know. Mine tear up real fast all the time and the first thing to go on my jeans always seems to be the crotch. Chinese stuff is much worse though. I miss the 80's when we got most of our quality stuff from Japan or right here at home. Too easy to buy cheap crap out of China that was made in a sweatshop with cheap labor.

My sources in China tell me that China is manipulating our Stock Market to make America nervous.

The Chinese agents behind this?

Wi Bai Lo and Yu Noh Bai.

originally posted by: OccamsRazor04
a reply to: Willtell

Yawn. Your doomporn doesn't math up to my record wage growth.

Dow was 17.5k in 2016. It's now 26.8k.

I hope Trump keeps those losses coming.

Right, and your salary is the best barometer for the economy, not the millions of other salaries out there that have fallen 10 years behind inflation.

originally posted by: DBCowboy
My sources in China tell me that China is manipulating our Stock Market to make America nervous.

The Chinese agents behind this?

Wi Bai Lo and Yu Noh Bai.

I'm sure you have the inside scoop....

I'm sure you've "entertained" many a chinese businessman.....

a reply to: MisterSpock

It's a real "game of chicken" though,

Crass arrogance while using American farmers, many who are badly affected and suffer by these policies, as bargaining chips and pawns.

Winning?

Or arrogant stupidity.

a reply to: pexx421

DOW is the highest it has ever been in history, and average wage growth, not my wage growth, had the largest increase in US history under Trump.

Under Obama it certainly fell behind inflation though. I didn't even get a raise 5 of his 8 years.

originally posted by: Willtell
Trumps not only tearing this country apart socially but his crazy economics is also adding ruin to the country. The Dow plunged 1000 points then slowly eked back up to 766 before the close in response to the Chinese devaluing their currency.

I'm sick and tired of alarmists saying crap like that
'' Trump is tearing this country apart socially ''

What a total load of crap - I see it daily - not just ATS but all over the twitter sphere.

God forbid should someone become a leader who echo's the peoples opinions on matters of immigration, trade, ridiculous policies, extensive red tape, corruption and media influence. Democrats have had 8years under Obama to fix the crap going on in this country, instead they tried to put makeup on a pig and call it show-worthy.

I love the fact Trump washed off that makeup, pointed it and loudly said, this is a pig!

'' tearing the country apart ''

I've seen the pictures and movies of President Trumps rallies, theres not a racist, violent, extremeist type in the crowd.
There's african americans, Latinos, whites, asian all standing together applauding and hanging on his words.

How many of the last gun massacres were committed by Democratic supporters?

The Media have torn this country apart with their blatant lies, misinformation, agenda and political talking points.
They lie often and when caught out simply move to another story and pretend it didn't happen.

Anyways, on topic...

China needs America. If China wants to slit its own wrists to try and get back at the US then go for it, how many billion Chinese (and Hong Kong and Taiwan) are sick of Chinese Communist rule?

a reply to: OccamsRazor04

Yawn. Your doomporn doesn't math up to my record wage growth.


I hope Trump keeps those losses coming.

Are you a midwestern farmer?

Pretty sure they care about their losses.

a reply to: Liquesence

Stop acting like you care.

Question. If Trump's plan is the best for long term economic security, but will have a short term detrimental effect, is it worth it?