Stocks plunge as China trade war and Mexico tariffs fuel a 'triple hit of bad news'

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(Worthy News) - US stocks fell sharply on Friday after the Trump administration threatened tariffs on all imports from Mexico if the country did not do more to reduce illegal crossings at the southern US border. China's confirmation that it has planned out how to restrict America's supply of critical rare-earth metals, and a decline in Chinese manufacturing in May, also weighed on markets.

All three of the major averages were down at least 1.3%, with the Dow Jones Industrial Average closing lower by more than 350 points. Friday's sell-off pushed the S&P's May loss to 6.5%, and closed the chapter on the index's first down month since December.

"On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP," President Donald Trump tweeted. "The Tariff will gradually increase until the Illegal Immigration problem is remedied at which time the Tariffs will be removed." [ Source: Business Insider (Read More...) ]

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1 thought on “Stocks plunge as China trade war and Mexico tariffs fuel a 'triple hit of bad news'”

  1. I hope everyone reads my comment here. Less than 5% of Americans are directly invested in the stock market. Yes, there are more that are in mutual funds and have other accounts in other ways, but the stock market is not the best indicator of the health of a nation, although it's often touted as such. And we all know, it's manipulated. The ones who really make money are the ones with allot of money and with their own brokers on the floor of the exchanges. Anyone else who invests thinking they're going to outwit brokers on the floor are fooling themselves. You'd do better to go to a casino.
    But you shouldn't do that either.

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