Wall St. sinks as yuan slide inflames U.S.-China trade dispute

NEW YORK - Wall Street’s major indexes posted their biggest percentage drop of the year on Monday as a fall in the yuan following U.S. President Donald Trump’s vow to impose additional tariffs on Chinese goods sparked fears of further escalation of the U.S.-China trade war.

The yuan weakened past the seven-per-dollar level, its lowest in 11 years, after the People’s Bank of China, with the blessing of policymakers, set its daily midpoint at the weakest level in eight months.Several investors viewed the move in the yuan as a direct response to Trump’s announcement of 10% tariffs on an additional $300 billion of Chinese imports.“It’s the escalation of the trade war,” said Steven DeSanctis, equity strategist at Jefferies in New York.

Adding to the tensions, China’s Commerce Ministry said that Chinese companies have stopped buying U.S. agricultural products and that China will not rule out imposing import tariffs on U.S. farm products that were bought after Aug. 3. Apple Inc shares slid 5.2% as analysts warned that the newly proposed tariffs may hurt demand for the iPhone, while the Philadelphia semiconductor index .SOX dropped 4.4%.

Will Trump take his own advice? SelfImpeach

you gotta let A I get thru before you can see how deep it might go or be going. Selling today and Tuesday I think mostly computer driven . Wed. important as to real panic evaluation.

You British people always panic. Read up on Churchill please. Took on the Nazis alone for two years.

As an investor you really don’t feel the pain it’s more like buying stuff on sale for then selling for more. Yeah it’s that easy.

Turn on the money printing machines.

that's Yuan huge mess, meanwhile Juan is still being indefinitely detained at the border and it's kind of ironic...

No fears. This hurts China more than USA. It's time we take on China. They're corrupt.

SOS SOS. Mayday mayday. Stop trade war with China. Wrong way please change way love landing in Tokyo trade stock market exchange. Over.

a needed devaluation by China, a big lender...

Winning?

WhiteHouse POTUS realDonaldTrump This recession is all on this admin & his cohorts the GOP

This should end well

The Fed could cut int.....oh.

البورصة في وول ستريت تسجل اليوم اكبر خسارة لها هذا العام وسط مخاوف من اندلاع حرب تجارية بين أمريكا و الصين

Trump isn't smart enough to beat China 😂

people turning to crypto because fiat currencies too unstable bitcoin

TrumpsWallstreetFail

China can make us suffer any time they want. Only a jackass like Trump would mess with them.

Lol how is your 401k doing today. Wait until tomorrow. Buckle up buttercups

I’m an economic JENIOUS! I will bring the same TREMENDOUS magic to the USA as I did to the casinos of Atlantic City!!! Just watch!

Its not a trade war So China sent 500 billion in goods. trump tries to turn that 500B into 1 trill using tariffs. So the poor pay twice as much because China goods flood poor communities. trump keeps 500 and China gets 500🤔 Reminds me of the crack game🤦

Beginning of decline of the United States. World needs to hold down the falling warlike before getting crazy.

Is China is going ask for return of half of their money which USA ow to them? If so let see how Dollar spin off in orbit and land on different countries Reserve account . Mini D day has started rolling in.

Trade war is bad for all. TPP, along with orderly, respectful negotiation, would have been a smarter strategy.

Trade wars are easy to win — if you’re China.

Here we go. Eff you, realDonaldTrump

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Stocks slide amid US-China trade war escalationWe're watching markets slide amid escalations in the the US-China trade war. The S&P 500 is having its worst day of the year and the Dow and Nasdaq are both down more than 3%. Watch live on Facebook: You watch, The Donald will tweet out that the US and China are nearing a deal so he will postpone the new tariffs he has threatened to impose on China. He may even lower some of those already in effect. That’s is first impact. The markets will stabilize once th companies announce they’re coming back home with lots of jobs for Americans
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