Wall Street is terrified about Trump's tariffs, but it needs to cool off and look at the big picture

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There are three main reasons why this and other major U.S. market selloffs connected to the trade war are overblown, even for the companies and consumers that have more relative China exposure, Jake Novak writes.

. That's less than 0.6%. Oh, and Caterpillar also posted a profit and increased year-over-year sales and revenue.

. The same is true for companies like GM and Ford. The tariff costs are hurting, but not in a serious way on a percentage basis relative to their total costs.Now, let's look at how China has retaliated with tariffs and new trade barriers of its own. The conventional wisdom on that front was that U.S. manufacturers could take a serious hit from that retaliation.

 

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Didn't Larry Kudlow say there was no recession back 2007, and goldilock and the Bush Boom was alive and well? And wasn't Kudlow part of CNBC? Strange coincidence, strange indeed...

What bigger picture? That he will be out of office in a little over a year?

Quick what does Jim Cramer think?

Thats what CNBC said in September of 2008. Remember what happened?

Then why did the Fed lower rates last week? Flim flam news. There needs to be more transparency for the markets. Starting from the administration, the Fed, and the media. So much noise and you never know what Tweets are going to jawbone the markets.

No. It needs to impeach him and stop this insanity. thereIfixedyourstory

This is block headed.

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