Probably 2% by tomorrow afternoon.
DJIA is at about 25,700 right now. I distinctly recall someone being mocked here for telling people to sell when it was north of 27,300.
Investopedia: "[T]he move [China devaluation] was unexpected [to US markets] and believed by many to be a desperate attempt by China to boost exports in support of an economy that was growing at its slowest rate in a quarter century"
25,605 to 25,962.
If we hit 26,900 in three weeks I will have been correct with my 5% prediction. We shall see.
But, I am no Warren Buffet.
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assuming everything else unchanged ( that is we don't consider any other things here).
China (and many their countries), run trade surpluses by lowering its currency and use their earned new money from trade to buy U.S. dollars, U.S. bonds, and even U.S. stocks, therefore contributing to the stock market booming. If this trade surpluses reduced because of the increased u.s. exports or reduced Chinese import or both, there would be less money inflow to U.S. dollar, bonds and stocks. The market would go lower in response to this change.
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I'm not sure how I had been misunderstanding anyone.
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long.
For those who doubted China’s willingness to fight this, the latest devaluation and orders not to buy US Ag, should dispel that. These are indeed easy to win in the eyes of morons.
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Another alternative is to shut the fuck up and not set off a global selloff for no apparent reason.
Hopefully this all turns around tomorrow.
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That remains to be seen. The trade war and debt are factors there.
If the Dow starts plummeting, he'll back down. Or so the Chinese are gambling.
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Good thing trade wars are easy to win.
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Just like the artificial propping of this economy by the fed.
A truly booming economy doesn’t need interest rate cuts,
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Or do they not want to win the war? Or is Chris wrong and the econ people encouraged this?
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"While #God shortsightedly took a day of rest from creation, I am smart enough to know that creating greatness requires that I never take a day off from the great American people! While God stood by Impotently while Barack Obama RUINED our economy, it took Me to right the ship! I can do Better and I have!"
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Even Schumer and Pelosi agree.