Results 1 to 3 of 3
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
04-02-2018, 12:27 PM #1
Dow drops 500 points after Trump tweets on Amazon
Top stories
BREAKING NEWS
Dow drops 500 points after Trump tweets on Amazon
Dow drops 500 points as Amazon tumbles, trade war fears rise
by Matt Egan @MattEganCNNApril 2, 2018: 12:20 PM ETTrade war fears and a presidential attack on Amazon are rocking Wall Street.
The Dow dropped more than 500 points and the Nasdaq plunged about 3% on Monday. All three major indexes are now in the red for the year.
The sell-off on the first day of the second quarter came after President Trump once again attacked Amazon on Twitter. Amazon (AMZN), one of the biggest drivers of the 2017 market rally, tumbled 5%.
Trump once again accused Amazon of taking advantage of the US Postal Service, and he suggested that Amazon does not pay its fair share of tax. In fact, Amazon pays the same lower rate that the post office charges other bulk shippers, and it collects sales tax in every state that charges it.
Related: Trump vs. Amazon: Let's set the record straight
"You've got the president of the United States attacking a single company over what he considers to be unfair practices," said Ian Winer, head of equities at Wedbush Securities.
Amazon wasn't the only tech stock in trouble. Tesla (TSLA), Netflix (NFLX) and Intel (INTC) all dropped by at least 4%. Almost every stock in the Nasdaq 100 lost ground.
The Nasdaq has plunged 9.5% from its all-time high on March 12.
Wall Street is also fretting over the risk of a trade war with China.
Beijing responded to Trump's steel and aluminum tariffs on Monday by imposing tariffs on $3 billion of US imports. The tariffs apply to 128 products, ranging from pork and meat to steep pipes.
Trump plans to place additional tariffs on about $50 billion worth of Chinese goods — and Beijing has promised to respond.
No matter the cause, signs of fear abounded. The VIX (VIX) volatility index jumped more than 15%. CNNMoney's Fear & Greed Index of market sentiment dropped further into "extreme fear." Crude oil plunged about 3%. Gold, which tends to do well when investors are worried, climbed more than 1%.
"None of it makes a lot of sense," said Michael Block, chief strategist at Rhino Trading Partners. "I don't know what we learned that was new. Chinese tariffs are not surprising."
After spiking last year, the stock market hit extreme turbulence during the first three months of the year as investors worried about tariffs, inflation and tech stocks. The Dow snapped its longest quarterly winning streak in 20 years.
CNNMoney (New York)First published April 2, 2018: 11:59 AM ET
http://money.cnn.com/2018/04/02/inve...zon/index.htmlNO AMNESTY
Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.
Sign in and post comments here.
Please support our fight against illegal immigration by joining ALIPAC's email alerts here https://eepurl.com/cktGTn
-
04-02-2018, 02:06 PM #2
- BREAKING NEWS
Dow falls 600 points after the President slams Amazon. Investors also worry over risk of a trade war with China
by Matt Egan @MattEganCNN April 2, 2018: 1:33 PM ET
NO AMNESTY
Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.
Sign in and post comments here.
Please support our fight against illegal immigration by joining ALIPAC's email alerts here https://eepurl.com/cktGTn
-
04-02-2018, 02:45 PM #3
Dow drops 700 points as Amazon tumbles, trade war fears rise
Highly Cited CNN Money 33m agoby Matt Egan @MattEganCNN April 2, 2018: 2:08 PM ET
NO AMNESTY
Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.
Sign in and post comments here.
Please support our fight against illegal immigration by joining ALIPAC's email alerts here https://eepurl.com/cktGTn
Similar Threads
-
CNN Drops Reza Aslan Following Anti-Trump Tweets
By 6 Million Dollar Man in forum General DiscussionReplies: 2Last Post: 06-10-2017, 12:33 AM -
Chilled by Trump tweets? You should be
By Judy in forum General DiscussionReplies: 4Last Post: 11-21-2016, 09:48 PM -
Drudge Report: Maryland Dem Drops 9 Points After Obama Visit...
By AirborneSapper7 in forum General DiscussionReplies: 2Last Post: 10-28-2014, 03:46 AM -
Poll: Obamacare Approval Rating 31% Drops 12 Points Since Last Month - The Five - Vid
By AirborneSapper7 in forum Other Topics News and IssuesReplies: 1Last Post: 11-21-2013, 01:57 AM -
Obama's Approval Drops 9 Points in a Month
By AirborneSapper7 in forum Other Topics News and IssuesReplies: 0Last Post: 07-16-2009, 04:25 PM
‘He started stabbing the little ones’ – Syrian migrant stabs 7...
06-10-2023, 12:44 AM in General Discussion