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Washington DC and The Holy Land>Dow falls 800 points on China trade confusion and mounting fear tariffs are choking g
oaklandhater 04:11 PM 12-04-2018
https://www.nbcnews.com/business/mar...global-n943641



The Dow Jones Industrial Average fell by almost 800 points Tuesday, to close at 25,027, continuing a shaky start to the week prompted by confusion over a thaw in U.S.-China trade relations.

The Dow finished the day down 3.06 percent. The S&P 500 lost 3.2 percent of its value, and the Nasdaq fell by 3.8 percent.

The decline on the blue-chip Dow came just one day after a 300-point rally, with investors cheering news that President Donald Trump and China's President Xi Jinping had settled their differences at the G-20 economic summit over the weekend.

Trump announced via a weekend tweet that China would "start purchasing agricultural product immediately," and that "China has agreed to reduce and remove tariffs on cars coming into China from the U.S." Treasury Secretary Steven Mnuchin echoed the positive sentiment, telling CNBC on Monday, "This is the first time that we have a commitment from them that this will be a real agreement."

On Tuesday, Trump tweeted, "The negotiations with China have already started. Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina."

However, no joint statement from the U.S. and Chinese trade teams was issued after the leaders of the world's two largest economies met on the sidelines of the G-20. While the Chinese Foreign Ministry acknowledged that further talks on tariffs would proceed, Beijing has yet to corroborate details on any major parts of the trade agreement, with Chinese state media avoiding any reference to a 90-day condition, nor did it mention an agreement to unilaterally reduce car tariffs.

ďThe market is reassessing if anything tangible happened at the Trump-Xi dinner,Ē Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management Company, told MarketWatch.

A protracted tit-for-tat over import tariffs has dominated the economic landscape since Trump first imposed them in January, with markets in turn rallying and tanking as investor sentiment veered.
[Reply]
SuperBowl4 07:51 AM 12-06-2018
Originally Posted by Lex Luthor:
Yesterday's drop of 799 points is the 4th largest drop in the history of the DJIA. All 4 drops of 799 points or higher have taken place during the Trump administration.

Trump promised to run this country like he runs his businesses. Turns out he was right.

Wall Street is too big to fail
[Reply]
RubberSponge 07:58 AM 12-06-2018
Originally Posted by SuperBowl4:
Wall Street is too big to fail
But you aren't.
[Reply]
SuperBowl4 10:15 AM 12-06-2018
DOWN almost 700 points!
[Reply]
SuperBowl4 10:19 AM 12-06-2018
Originally Posted by RubberSponge:
But you aren't.
one percent correct
[Reply]
GloryDayz 10:40 AM 12-06-2018
I can't wait for the next Tweet.
[Reply]
Trolly McTrollson 11:04 AM 12-06-2018
Originally Posted by Over Yonder:
Even people like me who are in cash? Honest question.

I know short term, I'm good because the last few weeks I have been checking my 401k daily (out of curiosity) and I have made money every single day. Including this Mon and Tue. But if crap does go south, do the money markets generally fall with the stocks?
Bonds usually do well when stocks go down, no clue why you’d be 100% in cash in any economy.
[Reply]
Lex Luthor 11:57 AM 12-06-2018
Originally Posted by GloryDayz:
I can't wait for the next Tweet.
Trump will either blame it on Obama, or he'll say it's all fake news.
[Reply]
Over Yonder 12:12 PM 12-06-2018
Originally Posted by lewdog:
You arenít winning. Inflation makes you lose long term in a money market. Go with a 50/50 balanced index fund. Over 10+ years youíre unlikely to lose money and I feel itís less risky than a money market making you lose to inflation.

Consult a financial expert. Not some douche on Chiefsplanet though.
I'm sure I could be making more, but I can't see where I'm losing. Here's the way I see it.

Yonder's money $10
Company match $5

My $10 just turned into $15, that's 50% interest (as long as I don't lose any of it). Then you throw in whatever chump change the money market gains, even if just one penny, that's just icing on the cake at that point.

I do appreciate all the advice but I doubt I change anything. I just had a question of clarification.
[Reply]
Over Yonder 12:19 PM 12-06-2018
Originally Posted by Trolly McTrollson:
Bonds usually do well when stocks go down, no clue why youíd be 100% in cash in any economy.
I kind of hinted around at that in post #43, but the reason is risk tolerance..... I have none. I've got 4 routes for retirement going for me....

1. Social Security
2. A Traditional IRA
3. 401k
4. A company pension (assuming I stay here long enough to retire)

I guess really 6 when you throw in the wife's pension and 401k. I am hoping I don't need to be as risky. I should have a decent retirement without keeping myself up at night worrying how much money I lost today :-)

It's just the way I'm wired I guess.
[Reply]
Discuss Thrower 12:20 PM 12-06-2018
Originally Posted by lewdog:
You arenít winning. Inflation makes you lose long term in a money market. Go with a 50/50 balanced index fund. Over 10+ years youíre unlikely to lose money and I feel itís less risky than a money market making you lose to inflation.

Consult a financial expert. Not some douche on Chiefsplanet though.
Less risky in terms of losing principal, yes, but if you're framing that in terms of inflation then theoretically you're mitigating risk and keeping pace with inflation by buying TIPS.
[Reply]
Pawnmower 12:23 PM 12-06-2018
Originally Posted by oaklandhater:
the fact that you guys think I'm celebrating is hilarious
I'm pretty neutral about this, and to me it seems as if you're celebrating...and you dont care if things go bad as long as trump gets blame

Thats the part I dont get

I dislike trump but I want to see him.succeed...because we all succeed together. I don't uh understand the mentality of wishing and hoping he fails
[Reply]
Over Yonder 12:24 PM 12-06-2018
Originally Posted by Bugeater:
I am a financial expert. Send your money to me.
That's a really decent gesture, I knew you cared :-)


Do you accept planes full of pallets of foreign currency? I hear that's the best way of transferring money :-)
[Reply]
Trolly McTrollson 01:12 PM 12-06-2018
Yeah, some mix of stocks and bonds is going to be the safest long term investment. Holding cash just guarantees losing out to inflation.

At any rate, checking your 401k day to day is always a bad idea.
[Reply]
oaklandhater 01:13 PM 12-06-2018
Originally Posted by Pawnmower:
I'm pretty neutral about this, and to me it seems as if you're celebrating...and you dont care if things go bad as long as trump gets blame

Thats the part I dont get

I dislike trump but I want to see him.succeed...because we all succeed together. I don't uh understand the mentality of wishing and hoping he fails
it's not that i'm celebrating.

it's that Trump and his admin are a economic blunder.


so any blowback he gets can either make you laugh or cry.
[Reply]
petegz28 05:50 PM 12-06-2018
Originally Posted by oaklandhater:
it's not that i'm celebrating.

it's that Trump and his admin are a economic blunder.


so any blowback he gets can either make you laugh or cry.
Your lying about celebrating aside, I would say your opinion of economics, being rooted in the education from the $1 menu at Taco Bell, isn't worth much
[Reply]
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