Volatility soars and shares slide after Beijing imposes tariffs on imports of agricultural goods from America

The Dow Jones industrial average, which tracks 30 major US companies, has dropped by 0.9% – shedding 383 points to trade around 42,418.

The broader S&P 500 index is down 1.4%, while the tech-focused Nasdaq has slumped by 2%.

This follows last week’s selloff, in which the S&P 500 fell by over 3%, its worst run since early September.

Stocks are sliding today after China today imposed reciprical tariffs on US imports, targeting agricultural products, in response to the 10% tariff imposed by the US on Chinese imports.

Hopes that Donald Trump’s more erratic actions could be reined in by the markets appear to be being eroded, after the US president failed to rule out a recession in his weekend interview with Fox.

    • randon31415@lemmy.world
      4·
      24 days ago

      Pump and dump: Buy shares of a bad company, do something to pump up the stock price, sell the shares for a profit (dump), let the company crash and burn.

      Crash and control: Take a good company, cause the share price to drop, buy low, take control.

      I think it is more of the latter.

      • HasturInYellow@lemmy.world
        1·
        24 days ago

        It is definitely both. The pump and dump is the mechanism and the crash and control is the entire economy and country.

    • thallamabond@lemmy.world
      4·
      24 days ago

      Those people are institutional buyers, they’re buying it up right now.

      All of this seems designed to cause pretty much anybody that’s not super wealthy to lose their ass. Dumping that water in California, they knew that was going to hurt farmers later, but that’s okay the vice president is investing heavily in farmland. House prices going up taxes so much that boomers can’t afford to stay in them anymore, going to get bought up by institutional buyers.

      Absolutely part of their plan.

  • werefreeatlast@lemmy.world
    3·
    24 days ago

    Many companies I known are already changing to longer lead times with US machining companies. This means you gotta buy much much more of the same items to reach a breaking point of similar price. But also means your company can’t be as competitive because a change to the manufacturing of a part will have a high price impact. This will lead to bullshit upgrades like software updates that make your phone faster because it was artificially running slower to begin with… Fins on cars vs more horsepower. Lol. Thanks Republican dumbasses!