{"id":2303,"date":"2019-05-13T12:29:23","date_gmt":"2019-05-13T16:29:23","guid":{"rendered":"https:\/\/liferep.net\/?p=2303"},"modified":"2019-08-15T14:57:12","modified_gmt":"2019-08-15T18:57:12","slug":"monday-may-13-2019","status":"publish","type":"post","link":"https:\/\/liferep.net\/?p=2303","title":{"rendered":"Thursday August 15, 2019"},"content":{"rendered":"

Dow drops 600 points after China retaliates with tariff hikes<\/strong><\/p>\n

Stocks plunge on China tariff retaliation \u2014 Here\u2019s what four experts say to watch<\/p>\n

The Dow Jones Industrial Average traded down 611 points, while a 3.4% drop in the tech sector pushed the S&P 500 down by 2.3%. The Nasdaq Composite dropped 3.2%.
\nChina will hike tariffs on $60 billion worth of U.S. imports, starting on June 1. The goods targeted include a broad range of agricultural products. This comes after President Donald Trump raised tariffs on Chinese imports last week. China said in a statement that the U.S.\u2032 decision jeopardized the interests of both countries and does not meet the \u201cgeneral expectations of the international community,\u201d according to a Google translation.
\nTrade bellwether Caterpillar fell 5% while Apple dropped 5.2%. Boeing shares also declined more than 3% amid speculation the airplane maker could be singled out by China in the trade war.
\nAsian markets fell broadly. The Nikkei 225 index declined 0.7% Monday while the Shanghai Composite pulled back 1.2%. European stocks also dropped. The Stoxx 600 index fell 1.1% while the German Dax dipped 1.3%.
\n\u201cVolatility is going to persist. People don\u2019t know what to make of it,\u201d said JJ Kinahan, chief market strategist at TD Ameritrade. But \u201cthis is more of a re-evaluation of stocks than it is a pure panic. Bonds have rallied over the last couple of weeks, but if this was a panic you\u2019d see people coming a lot more for bonds.\u201d
\nThe benchmark 10-year Treasury yield fell to 2.4% on Monday while the 2-year rate dipped to 2.18%. The Cboe Volatility index, which is considered to be the best fear gauge in the stock market, rose 4.7 points to 20.72.
\nTrump tweeted on Monday that China will be \u201churt very badly if you don\u2019t make a trade deal, \u201d noting that companies would be forced to leave the country without an agreement. Trump also said that China had a \u201cgreat deal\u201d almost completed but they \u201cbacked out.\u201d
\n I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don\u2019t make a deal because companies will be forced to leave China for other countries. Too expensive to buy in China. You had a great deal, almost completed, & you back.
\nU.S. equities fell sharply last week after Trump threatened to hike tariffs on China. Trump followed through on his threat, raising levies from 10% to 25% on $200 billion worth of Chinese goods. The S&P 500 and Nasdaq fell 2.2% and 3% last week, respectively, their worst weekly performances since December. The Dow had its worst week since March, dropping 2.1%.
\n\u201cThe market was bracing for a really big event and last week we got it,\u201d said James Masserio, head of equity derivatives trading in the Americas at Societe Generale. He noted investors had been loading up on downside protection ahead of last week\u2019s move. After Monday\u2019s news, however, we could see volatility being bid up \u201ceven higher.\u201d
\nSome of those losses were mitigated on Friday after stocks staged a massive comeback, however. Sentiment was boosted by Trump in a Friday afternoon Twitter post that the latest round of trade talks with China\u2019s delegation \u2014 which concluded after tariffs had already been increased \u2014 had been \u201ccandid and constructive.\u201d
\n\u201cNo one wins from a trade war, although China stands to lose more,\u201d said Chen Zhao, chief global strategist at Alpine Macro, in a note to clients. \u201cTrump\u2019s objective is to get a good deal from China, and as such the new tariffs announced last week may simply be a pressure tactic forcing Beijing to accept American demands. For China, the economic cost of losing the American market is simply too high.\u201d
\n\u201cThe odds of a China-U.S. trade accord remain significant, even though tariffs are being raised,\u201d he added.
\nDespite the tension between the world\u2019s two largest economies, White House economic advisor Larry Kudlow said Sunday that Trump and Chinese President Xi Jinping are likely to meet at the June G-20 summit in Japan. Kudlow said the chances of such as meeting \u201cwere pretty good\u201d but added that there are \u201cno concrete, definite plans\u201d for when U.S. and Chinese negotiators will meet again.<\/p>\n

Today’s Inspiration<\/strong><\/p>\n

Desire Unity<\/strong><\/p>\n

Bickering between God\u2019s people is nothing new. It was a problem in the early church, just as it is now.<\/p>\n

Paul strongly encouraged and urged the Church toward unity and wrote in Philippians 2:2 (AMPC): Fill up and complete my joy by living in harmony and being of the same mind and one in purpose, having the same love, being in full accord and of one harmonious mind and intention.<\/p>\n

Where there\u2019s unity, there\u2019s blessing and anointing. When people are thankful for each other and choose to live in unity, they will experience the power of agreement.<\/p>\n

But the power of God can\u2019t work in our lives if we stay bitter and angry toward people. His love can\u2019t flow through us if we\u2019re holding on to strife and resentment. Peace equals power, and no peace equals no power.<\/p>\n

Prayer Starter: I thank You today, Father, for the power we can experience when we decide to come together in unity. Today, I choose to put aside strife and arguments in order to pursue peace and unity. I am grateful that You will help me do this in Your strength. In Jesus\u2019 Name, Amen.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dow drops 600 points after China retaliates with tariff hikes Stocks plunge on China tariff retaliation \u2014 Here\u2019s what four experts say to watch The Dow Jones Industrial Average traded down 611 points, while a 3.4% drop in the tech sector pushed the S&P 500 down by 2.3%. The Nasdaq Composite dropped 3.2%. China will […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2303","post","type-post","status-publish","format-standard","hentry","category-daily-news"],"_links":{"self":[{"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts\/2303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2303"}],"version-history":[{"count":2,"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts\/2303\/revisions"}],"predecessor-version":[{"id":2306,"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts\/2303\/revisions\/2306"}],"wp:attachment":[{"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}