China Trade War Escalates

Monday, stocks closed down 1.2% in Asia, 0.9% in Europe, and 0.5% in the U.S. on moderate volume. The VXO jumped up 17% to close at 14.79. The NYSE index closed back below 13,000, and Apple ended the day below the 210 level. The market mover for the day was concern over the status of the U.S. / China trade talks.

Tuesday, stocks fell 0.3% in Asia, 1.4% in Europe, and 1.5% in the U.S. on strong volume. The VXO shot up 22% to close at 20.98. worldwide over renewed fear of escalating trade war with China. IBM fell below the 140 mark while 10-Year U.S. Treasury bond rate fell 2% to close at 2.45. The Dow, S&P, NASDAQ, and NYSE closed below benchmarks 26,000, 2900, 8000, and 13,000 respectively. Precious metals miners gained 2%.

Wednesday, stocks fell 0.9% in Asia, gained slightly in Europe, and closed little changed in the U.S. on strong volume. Thursday, stocks fell 1.5% in Asia, 1.7% in Europe, and 0.3% in the U.S on strong volume. as hope for China / U.S. trade deal withers. Friday, stocks fell 1.5% in Asia, 1.7% in Europe, and 0.3% in the U.S. on strong volume as the trade talks with China had failed. The VXO fell 18% to close at 18.00. Apple closed below 200.

Leave a Reply

Your email address will not be published. Required fields are marked *