As I’ve told you before, I don’t know much about stocks. But it seems pretty clear to others that today’s huge drop in the stock market is over fears of a trade war over Trump’s new tariffs:
WATCH: Boeing, 3M and Caterpillar are each down 4.7% or more, @TheChartress says, specifically on Trump’s tariff announcement #tictocnews pic.twitter.com/Vv7Cx6Hmdj
— TicToc by Bloomberg (@tictoc) March 22, 2018
724 points seems like a huge drop, especially after all the other drops we’ve had this year. I’m sure there other factors at play here, but I suspect that the fear of a trade war is preeminent on the minds of traders.
We’ll post Trump’s tweet taking credit for the big losses today as soon as he posts it.