Since the China trade war started over the summer, the stock market has been on a rollercoaster. Today one of the biggest companies Dow dropped over 400 points, making it the most significant drop in over two-month.
According to CNBC: Markets hit the lows of their day after Fox News reported that the White House still plans on moving ahead with scheduled Dec. 15 tariffs on Chinese goods, notwithstanding recent efforts at a “phase one” trade truce.
Also, according to CNBC, Trump said: “Look, I’m not in love with those companies — Facebook and Google and all of them, Twitter. Though I guess I do well with Twitter,” Trump said from London. “But they’re our companies; they’re American companies. I want to tax those companies. They’re not going to be taxed by France.”
Companies like Apple, Nvidia, S&P 500, 3M, and more all dropped and will continue to drop until the trade war gets resolved.
Given that I am in the stock market, I have seen a considerable drop. This makes me consider selling all of my stocks until this trade war is over and hopefully reinvest next year so I won’t lose any more money.
“In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now, and we will see whether or not the deal is going to be right,” Trump said, according to outlets including Reuters.
Not only is this affecting me as a person, but to millions of people who have invested money globally. The stock market has suffered a lot during the past decades, and now things seem like it’s going down that same road again.
What do you think? Will the stock market drop even more after this is over? Or do you think the market will go? If you want to get involved in the stock market for free, go to Robinhood, which is a free stock market app that does not charge you if any fees.