4/3/2018

BUSINESS/CHINA/TARIFFS/TRUMP AS PRESIDENT: “The so-called ‘Trump rally’ has morphed into a presidential plunge. The total paper gain of U.S. stocks since Election Day has been sliced from $8.7 trillion at the market’s Jan. 26 all-time high to $5.7 trillion after Tuesday’s rebound on Wall Street, according to Wilshire Associates. In a span of nine weeks, investors have lost $3 trillion in market wealth and about a third of the gains since President Trump was elected has been erased. A sizable chunk of that decline has come since early March, when the president announced 25% tariffs on steel imports into the U.S., threatened China with up to $60 billion in tariffs and took to Twitter to blast Amazon. The shift in the market’s mood has been swift and many Wall Street pros single Trump out for some of the blame.”

Adam Shell,”‘Trump rally’ hits roadblock as trade war worry, Amazon attacks rattle Wall Street,” USA Today, April 3, 2018 8:30 am