market volatility
Stock market continues to fluctuate amid China trade uncertainty
It's been a tumultuous couple of days for the stock market, all thanks to President Trump and his tweets.
Trump tweeted about raising tariffs on Chinese goods on Sunday, which sparked a bit of panic on Monday, causing several stocks to fall. The Dow Jones Industrial Average eventually recovered from a 450-point drop to finish Monday at just 66 points down.
But things got worse on Tuesday. The Dow fell more than 600 points on Tuesday. It recovered again, but only slightly, settling at 473 points down at the end the day. The plunge was the result of the White House's threats to raise tariffs on Chinese goods later this week and U.S. Trade Representative Robert Lighthizer's announcement on Monday that he had seen "an erosion in commitments by China" during the negotiations, The Wall Street Journal reports.
The zig-zagging is expected to continue throughout the week, as well. "The market will be pretty volatile in the next week or two reacting to headlines and comments and tweets," Scot Wren, a senior global equity strategist at Wells Fargo Investment Institute, told the Journal.