Global Markets Follow Wall Street’s Sell-Off After Trump Tweets

Dec 05, 2018 · 34 comments
Duncan Lennox (Canada)
America , your conman POTUS got a billion tax cut for his family when the inheritance tax is included along with the depreciation tax dodge that the Trump-Kushner crime family have used for 2 generations. The Trump abettors are all benefitting from the Trump-GOP tax cut eg Gary Cohn (ex Goldman Sachs Pres) , Mnuchin (also GS) , Wilbur Ross (ex co-chair of the Bank of Cyprus ; the favorite bank for Russian oligarchs to launder their money) , etc. America , you are better than the Trump-Kushner crime family ………. aren`t you ?
Corbin (Minneapolis)
Any inside trading?
Ben K (Miami, Fl)
Market manipulation via words, allowing t and his oligarchic pals to make $$ by shorting and then buying in after forcing the dive. Another offense worthy of investigation. Check the trading record and compare to silly statement timeline.
Bull (Terrier)
I read that the concerns also have to do with the closing in of the inversion to the yield curve. Add to that the overwhelming phony baloney, and we will likely have the jitters. I've been thinking its overvalued for a long time now. If you are in retirement I would have recommended reallocating some greater amount out of equities long before today.
D.j.j.k. (south Delaware)
Trump lied during the campaign I am a good business man. Show us your bank account now and I bet we will see over 30 off shore accounts with Russian money in it like Manafort had 30 off shore accounts. Mitt Romney said Trump is a phony and he was right. Some business man.
Jacquie (Iowa)
The stable genius and the art of the deal. We will be in a recession soon if not a depression from this dumpster fire of an administration.
Ken L (Atlanta)
We need to stop reminding Trump that his 280-character outbursts carry such weight around the world. It just reinforces his narcissism and encourages more. Now they're doing real damage.
Ray Sipe (Florida)
Donald in charge equals chaos. Deficit exploding; Businesses destroying workers; racists marching in the street; wage stagnation; Democracy on it's way out the door.We are all headed straight down. Thanks Republicans. Ray Sipe
Richard Mitchell-Lowe (New Zealand)
The transfer of global manufacturing to Communist China is responsible for the trade imbalances that are driving Western nations deeper in to debt. Manufacturing is intrinsically complicated, generates many network effects within an economy and provides many high skilled jobs. China has a strategy of stacking its rules in favour of itself - foreign investment in China has been at best difficult if not illegal; they have a controlled exchange rate; intellectual property transfers have been forced or achieved by criminal state/industrial espionage; and market access is not reciprocal. Furthermore, China is a land of patriotism and coordinated action. The Chinese people have an admirable dedication to hard work and education. It is possible for China to run complex long term strategies and they are on a mission to achieve global dominance. Western values are defended by strong economies; investment in scientific research and development; military capability; a principled approach to international relations; coordination of like minded countries through treaties; trade agreements and organisations like the United Nations; and well-reasoned strategies. American political leadership in the form of the Republican Party and Trump is now variously characterised by abandonment of the notion of the common good; a preference for lies ahead of facts; rejection of scientific evidence; big money corruption; and a low IQ President with limited comprehension. Therefore China will win.
njglea (Seattle)
Good thing the U.S. "markets" ae closed today. Get used to the fall.
Jim K (coloma)
I'm so tired of all this 'winning'.
KevinX (Center village)
Just ignore everything he says. Ignore him. Go by what the responsible foreign leaders say. Not this liar and con man. Our problem is we still take him seriously.
G. Sears (Johnson City, Tenn.)
Tariff Man no less. More of Trumps delusions making for potential economic disaster at a time when many key indicators portend the recession that has been lurking in the shadows. America as economic bully to the world will not play well at all.
[email protected] (Joshua Tree)
President Trump's every word and tweet seems to have a quick effect on financial markets. he can't possibly not notice this. he has it in his power to cause a drop in stock prices, particularly in categories where he's already been mucking around. so, what's a grifter to do? why not come up with something pithy, like "I'm a tarriff guy", get a few of his most notorious sabre rattlers out on the field dissing trading partners like China, cause a drop in the market, swoop in (probably through Kushner), buy artificially cheap, then when the cloud blows over, sell dear. even if stocks did not return to previous levels, an irresistible windfall could be in the offing, dancing like visions of sugarplums over his coiffure. you could call this wireless fraud, but the whole thing is too wacky not to be - at the very least - suspicious.
Dwight Homer (St. Louis MO)
@[email protected] Love your paranoia. Only trouble is that it may not be "make believe." Not sure at all that "tarriff guy" is smart enough to play the markets short. But those with steel nerves and dark souls may dive for dollars on the off chance.
c harris (Candler, NC)
The folks who say all is well with the US economy despite the Wall Street sell off just are not looking at the world economy in a serious manner. The idea that Wall Street in times of volatility such as these is not concerning is foolish. Britain and Italy seem heading for very bad situations. The world economy is heading for a slow down. The fact that wealth disparity is worse while wages barely have gone up belies the narrative of plutocratic boosters trumpeting the millennia with Trump's presidency.
Howard Levine (Middletown Twp., PA)
Hard to tell which is more unstable these days: The market or the president.
PG (Lake Orion)
Trump has seen how his juvenile and sclerotic tweets can move markets, up or down. It would be instructive indeed to see who appears to be trading on that.
WmC (Lowertown, MN)
@PG Regardless of who is trading on Trump-twitter-inspired volitility, we know for a fact who is benefitting: stockbrokers. See Eddie Murphy's role in the movie "Trading Places" for confirmation.
Martin (Chicago)
The wealthy citizens and banks of our country see the crash as a buying opportunity, fueled by their recent gains handed to them by the tax code. SALT, charitable donations, healthcare, and future cuts to Medicare and SS just paid for the purchase of a bunch of cheap stocks. Just another transfer of wealth from poorer to richer citizens of the country. Do we really want our economic policies to promote this model of economics? And how many more times will a good percentage of the country fall for these lousy economic policies that result in boom to bust? We can't do better than this?
[email protected] (Joshua Tree)
you said it.
Thomas Hughes (Bradenton, FL)
One has to wonder who shorted stocks in the hours before DT publicly proclaimed himself "Tariff Man." This might prove to be a fertile field of inquiry about anyone connected with the first family's business dealings.
Nick Metrowsky (Longmont CO)
In the United States there are situations where freedom of speech is not appropriate, or even dangerous. For example, yelling "fire" in a crowded room, to induce panic. In that case, the perpetrator would be charged with a crime, including a felony, if death result. Trump has done this with his tweets, time and time again. No deaths have resulted, directly. However, he has caused panic in the markets, among immigrants, among Americans who receive Obamacare, etc. Many of his tweets were also out and out lies. His tweets also have attacked the press, ethnic groups, racial groups and the very foundation of "rule of law". Laws need to be passed to define what is not acceptable as "free speech". What Trump did yesterday was reckless, and certainly not acceptable as "free speech".
Ted (Portland)
@Nick Metrowsky: They already have decided what is illegal, leak bad stuff against establishment politicians, you go to jail ask Manning or Assange. BTW The “ insider trading “ potential if one had advance knowledge of his tweets could be enormous.
A Canadian cousin (Ottawa)
@Ted EXACTLY .."The insider trading potential if one had advance knowledge of his tweets could be enormous"
There (Here)
I've got 20 years to retirement, I don't care about 1-3% daily moves.....
MJO (Delaware)
I have one month to retirement. I sure do.
Bob Lakeman (Alexandria, VA)
@There Sounds like October 1929 and everybody ended up caring then.
Jwinder (NJ)
@There I have five years until retirement, and a pension fund that hasn't recovered from the last two downturns, and may fold with another one. I do care about 1-3% moves, especially when we see a sequence of them. Thank you for your demonstration of tunnel vision.
Max & Max (Brooklyn)
Mr. Trump's tweets are the equivalent of fake seismic reports or fire in a crowded theater. People will run for cover. And Mr. Trump knows that people react to words faster than they react to reality. In my view, he is criminal and as his words change and change economic conditions without just cause, he ought to be banned, for life, from participating in any financial activity that uses the US Dollar.
[email protected] (Joshua Tree)
not paying taxes... if, indeed, he pays any. only the release of his returns will show...
BTO (Somerset, MA)
The Asian and European markets opened up before the US market and yes they had taken a dive long before our market. When Trump tweets he causes uncertainty as to what the US is going to do and this causes a panic. Trump is not of a stable mind and he proves it every day of the week.
Mister Ed (Maine)
The uncertainty that has plagued markets over the past year is increasingly becoming more certain. The US is certain to suffer extraordinary harm from its incompetent President and the low-information voters will get hurt worse than the ideologically-driven tax-cutters and bible-thumping evangelicals who elected him.
Ed (Oklahoma City)
The market is not about corporate America, it's about investors, including retirement account holders. The chaos he sows is an impeachable offense.