The tariffs have killed the stock market, specifically the Dow.
As of 2:05Pm the Dow was down -850 points.
Part of it the Chinese have devalued their money, the Yuan, making everything the Chinese buy go up in price.
This will basically cause Chinese businesses to look elsewhere to buy American goods.
There has also been a reported that China will stop buying all American agricultural products. ( Don't think this won't hurt a large section of the economy, not just farmers will be involved.....)
Oil is down, Natural gas down, most other commodities are down. ( precious metals are up however.)
Like we don't have enough troubles in this country, the economy is not looking good...
No comments:
Post a Comment