Buck Ashuck wrote:
Hopps McKee wrote:
Hope you enjoyed the beating you took in the market yesterday.
More today?
That wasn’t much of a beating. Knowledgeable investors know better.
Stocks got clobbered Monday in the biggest rout of the year for the three major indexes as trade tensions between the U.S. and China intensified.
Investors frantically dumped shares after China’s currency, the yuan, weakened sharply against the U.S. dollar, a move seen as a possible retaliation against President Donald Trump’s call last week for more tariffs on Chinese goods.
The Dow Jones Industrial Average dropped 767 points, or 2.9%, to close at around 25,718, while the Standard & Poor's 500 index tumbled 87 points, or nearly 3%, to end at 2,845.
The tech-heavy Nasdaq composite fell the most of the major indexes, losing 278 points, or 3.47%, to finish at 7,726 on Monday.
Not much of a beating, eh?