Sunday, 12 May 2019

The Week Trump Drove the Stock Market Nuts: Here's a Play-by-Play of How His Trade War with China Wreaked Havoc and Erased $1.4 Trillion in Market Value


BUSINESS INSIDER: US stock market entered the week riding high, but saw its historically strong start to 2019 thrown into disarray as President Donald Trump reignited his trade war with China. / The benchmark S&P 500 lost 2.2% in its worst week of the year, while roughly $1.4 trillion was erased from global stock indexes at one point.

They say all good things must come to an end, and that certainly rang true this past week for the US stock market.

Equities entered Monday riding high after a historically strong start to 2019. But by the time Friday afternoon rolled around, they'd suffered through their worst week of the year. As of Thursday's close, the MSCI All-Country World Index of global stocks had already seen $1.4 trillion of market value erased.

But that summary hardly does justice to the turbulence felt along the way, which frayed investor nerves and led many to wonder if this was the beginning of the end for the 10-year bull market. » | Joe Ciolli | Saturday, May 11, 2019