Stocks are plunging on Wall Street after China let its currency sink to the lowest level in more than a decade, escalating its trade war with the U.S.Technology companies and banks fell the most. Apple and Bank of America each fell 5%.China’s central bank allowed the yuan to sink below seven per dollar. Investors are concerned that Beijing is using its currency as a weapon in its trade skirmish with Washington.The S&P 500 fell 93 points, or 3.2%, to 2,837. The Nasdaq fell 309 points, or 3.
China’s central bank allowed the yuan’s exchange rate to sink below the politically sensitive level of seven per dollar. Industrial and financial stocks posted the biggest drops early Monday. Apple sank 2.8% and Bank of America dropped 3.5%.
Stump, Making America destitute again! He really knows the art of a deal! 🤪😂😔
So much winning
MaddowBlog realDonaldTrump sinks global economy because he listens to his gut. Donnie, your gut is stupid.
MikeMonzel If you’re retired and depending on an IRA or a 401K, ya gotta love trump
Good
Eppie888 Nice deal-making, Trump.
I was told realDonaldTrump was a stable genius. How could this happen?
Blame trump
And just to add to the fun China just stopped all US agricultural imports.
trump will destroy the USA economy .
Shiiiiiiit!
Tariff Man strikes again
Good! Winning! The United States with its stable genius.
And you have to ask, who does this help? 😳🙄
If 3% is enough to plunge us into economic darkness, we were doing very well in the first place. Wake me up when it goes to 40%....
I don’t know about you but I can just feel America becoming great again.
joncoopertweets MAGA
Buy cheap
Yup
Can you say Recession?
Not to worry. I hear that China is paying for it.
800 points out does the BushII GOP recession drop
joncoopertweets As The world falls to pieces listening to a psychopath name Trump who is only going to bankrupt USA along with the world! I feel all World Leaders that listen to trump are idiots! Trump the illegitimate psychopath is going to bring pain to us & the world!
Does anyone ever wonder whether he is narcissistic enough to believe that if his presidency fails everything and everyone should go down with him as punishment?
All this winning is making me sick 🤒
Now that is winning!!!!!
joncoopertweets Trump is terrorizing the country and stock market.
joncoopertweets Trump didn’t tweet on this.
And the rich just got richer lol
China has said, 'there is no winner in the trade war', trump is a fraud.
We better give the Farmers more Socialism payouts! $16 billion so far. Maybe another $20 billion in Socialism PAYOUTS 🇺🇸
GinaCaCSR 'Nobody knew the economy could be so complicated. I blame the quantitative tightening...and the quantitative easing. You can call it either one.'
joncoopertweets Have we reached peak MAGA yet?
MikeMonzel TrumpCrash
Seems the investment community is knuckling to Chinese pressure. We reap what we sow.
Islam54479192
Who wins over a stock market plunge? The rich!
Thank you djt & gop- hmm who got rich today? Not my kids 529! Plan! Goddammit
Great. Let’s go another 97%😈
MaddowBlog Like we didn’t see this coming.
MaddowBlog realDonaldTrump just so we're clear: stock market plunges because IT gets it that AMERICANS will be paying the extra costs from the billions you dream we're going to get from china; ah well, your base is uninformed enough not to see it; i suppose that's all that matters
Thank you Trump for finally standing up to the unfair practices of China. I stand with you on this issue tradewar
It’s all Trump’s fault!
This is on you, T**** voters. You thought he'd be a smart leader for the business sector. You were wrong then, you've been proven wrong since.
Thanks Trump
Best economy ever...amirite?
Now is the time to buy stocks... because they always bounce back..and that's when you make money.
Zero growth since January 2018!
.realDonaldTrump the numbers are as red as your MAGA hat, Donnie, you old genius negotiator you.
Don't worry, 'President' CHUMP will come to the rescue!
Thankyou TreasonousTrump
Good job Mr President! Just as the markets are doing good, the rug is ripped out from under them with a tariff war.
MaddowBlog Hey Adolph Mussolini trump How about a new trade war...
suem624 ResignTrump
I think the stock might crash soon
No interest of china, the whole world know what is china, cannot be trusted.
Ugh man
c4i Chinese market manipulation mixed with leftist sell orders. Yes democrats do order massive sell orders for poltical ends eventually people take a look and say wait there was no reason for that.
I am so sick of winning!
How many 400+ drops under Trump have we had..dude can't keep a good thing going without doing everything possible to ruin it.
Trumptards gonna be blaming Obama in 3-2-1.
All markets in free fall. But bitcoin gains nearly 9% intraday. 🤔 Now you see where all the evil people invest their money. 👹 Notice to myself: Always invest where evil people invest. 🤑 invest stocks NYSE trade cryptocurrencynews
So much winning!!! TrumpResignNow TrumpIsAWhiteNationalist TrumpIsACriminal TrumpIsAFelon TrumpIsADisgrace
No sweat off my nuts. 😎
Don't freak out! We are stronger and this will pass. We will prevail! 🇺🇲
JonLemire The Art of the Deal 🙄
Thanks Donnie maga right?
Isn’t this Obama’s economy?
MaddowBlog Trade wars are easy to win if we have the upper hand. We don't. Sad.
WE’RE DOOOOOOMED!!!!
.realDonaldTrump winning! 🙄🤡