Why Are Markets Falling Again? Let Me Count The Ways
The market is seeing red again.
On the first trading day of the second quarter, the Dow slipped by more than 400 points, and the tech-heavy Nasdaq ended the day nearly three percent lower.
“We saw overnight China announced a tariff of up to 25 percent on about...130 U.S. products,” explained Matthew Battipaglia, Portfolio Manager at Washington Crossing Advisors.
China’s new tariffs hit a myriad of American goods, including fruits and pork, imports of which amount to around $3 billion.
The announcement comes merely weeks after President Trump slapped taxes on aluminum and steel imports from China and announced plans to tax $50 billion more worth of Chinese goods.
These trade war warning shots from two of the world’s largest economies worried investors Monday. They also added pressure to a market that was already heading downwards on negative news from the tech world.
Reports of Apple potentially ditching Intel and using its own chips for Mac computers drove Intel’s shares down by as much as nine percent. [Tesla, Facebook, and Amazon](https://cheddar.com/videos/facebooks-data-policies-are-like-cigarette-labels) also resumed their downward spirals to start the quarter.
Working five days a week has long been the corporate cultural norm. But some companies are exploring the option of letting employees work four days a week.
After a two-year-long high, interest rates are coming back to earth. So what happens next? Plus: Boeing's woes, UAW may strike, and of course Elon's World.
PLUS: American Eagle marks 30 NYSE years with a record stock high. CMO Craig Brommers discusses Gen-Z trends and collabs with Coco Gauff and Trevor Lawrence.
