Chinese stock market down $514 billion since Monday due to Trump
What caused the drop?
President Donald J. Trump's threats of additional taxes on Chinese-made goods. The threats were made four days ago.
According to who?
Says the Chinese Community Party:
Says Morgan Stanley and Bloomberg Economics. Both predict a "Bear Market" or a Chinese stock market crash. The Chinese Communist Party is bracing for it.
And the Wall Street Journal:
Other investment companies issuing similar advisories are:
- UBS Group AG
- Deutsche Bank AG
- Oxford Economics LTD
The Chinese stock market called the Shanghai Composite Index has lost 19 per cent of its value since January. The half a trillion dollar loss is the size of Sweden's economy.
It is the worst performing stock index of the world's major exchanges, according to Morgan Stanley.
The first set of new Chinese tariffs start on July 6th.
President Trump is pictured at the top of this post with Xi Jinping, President of the People's Republic of China,