Dow drops 400 points, biggest fall in 2 months, after Trump says he could wait on China deal.
PUBLISHED TUESDAY DECEMBER 3, 2019
2:49 AM EST
UPDATED 8 MINUTES AGO.
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What I wrote at the Wall Street Journal:
In other news: "The Dow Jones Industrial Average fell more than 400 points after President Trump suggested a trade war with China could continue well into next year as he threatened new tariffs on several more countries."
Thanks Trump. Good riddance when you're thrown out the window.
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What someone else wrote at the Wall Street Journal:
More from the erratic, impulsive, petulant Trump. Some will say he's trying to deflect away from the impeachment hearings. I think he's just being his usual early-stage-dementia self.
He announces tariffs against Argentina and Brazil, accusing them of devaluing their currencies (actually, they've tried to prop up their currencies) even though we run a trade surplus with them. Now, he threatens tariffs against France for wanting to tax internet transactions in France. He thinks everyone is out to get him. I suppose that's why he doesn't have any friends. He has destroyed every relationship he has ever had.
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What someone else wrote at the Wall Street Journal:
All of Trump's words and actions have their origin: his dysfunctional brain from which his uncertainty, his flip flops and walk backs and backtracks, his delaying and excuses and finger-pointing, his inability to look at or deal with complex issues continuously emerge, along with his lies, promises. Not too long ago, he said he was looking forward to impeachment, thinking it could help him. But now, it's unpatriotic action and a hoax. Yes, Trump is unpatriotic and a big fraud.
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All these people are Republicans and they all hate Trump.
What someone else wrote at the Wall Street Journal:
Here's the problem for the market: President Trump has no trade strategy, just a bundle of impulses. He lashes out at perceived enemies and doesn't really understand how tariffs work. He sees tariffs as a tax on our trading partners that goes into U.S. pockets. He doesn't understand that in the main they are a tax on the American consumer, and a drag on U.S. business. So, he waffles and waddles his way all over the map, the D student in economics trying to pretend that he got an A.
Trump does see that a rising stock market will help him politically, so he tries every short-term trick he can to keep prices high. This will work for a while, but his combative political impulses -- particularly on tariffs -- constantly get in the way.
Meanwhile, Wall Street can't depend on Trump for a consistent strategy, and the Dow is only one tweet away from a minus 300-point day -- like today.
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