"The 2-10 inversion is sending a massively negative signal that stocks are having a difficult time ignoring," Adam Crisafulli, a J.P. Morgan managing director, said in a note Wednesday.
Stocks got a bump in morning trading after a spokesperson at China's Ministry of Foreign Affairs said Beijing "hopes the U.S. will meet China halfway" on trade issues, fueling optimism about a resolution between the two countries.for the latest U.S. tariffs on $300 billion of Chinese goods, adding the U.S. tariffs violated the consensus reached by the leaders of the two countries.
"The market is confused about what the likely outcome is," said Brent Schutte, chief investment strategist at Northwestern Mutual. "In the past there's been pronouncements of positive steps that led nowhere, which I think leads the market to still be skeptical." This week, President Donald Trump decided to delay tariffs on certain Chinese goods while outright removing some items from the tariff list, a move to avoid any negative impact on the holiday shopping season. The announcement sent the Dow rallying more than 300 points on Tuesday. Those gains were lost in the big sell-off Wednesday.Cisco shares plunged 8.6% Thursday after it said future earnings would be lighter than expected because of afrom the U.S.-China trade war.
Shares of General Electric dropped 11.3%, the most in 11 years, after Madoff whistleblower Harry Markopolos said he has discovered "— CNBC's Brian Sullivan and Eustance Huang contributed to this report.
Source: News Formal (newsformal.com)
I was off by 401 points womp womp wwwwoooommmmpppppp
Morgan 👋😃
when you economy hinges on a retailer that services the lowest income tier. lastOutlier
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