S & P collapses when Trumps orders US companies to leave China by Investing.com

Investing.com – Stocks collapsed on Friday as a result of escalating trade conflict between the United States and China and President Donald Trump announced that he was ordering US companies with the largest amount of money. facilities in China to transfer them elsewhere.

The decline of almost 2%. The decline was about 1.9% and the decline of 2.53%. The index, heavily influenced by some of the biggest names in technology, had lost 2.74%.

The paper lost 589 points before reducing some of its losses to 504 points.

Apple (NASDAQ :), whose growth is linked to the growth of its business in China, lost nearly 4% and was the weakest and the eleventh best-performing market of Nasdaq-100. Hasbro (NASDAQ :), Alexion Pharmaceuticals (NASDAQ 🙂 and Advanced Micro Devices (NASDAQ 🙂 were the most affected stocks of Nasdaq-100.

Boeing (NYSE 🙂 was the only winner of the day. NetEase (NASDAQ 🙂 and Intuit (NASDAQ 🙂 were the only Nasdaq winners.

The Trump order, announced on Twitter and arguably questionable, came after China announced it would increase tariffs on a variety of US products, including cars and agricultural products. He suggested to US manufacturers to create jobs in the United States.

The order was also given after Federal Reserve Chairman Jerome Powell said Friday at a conference in Jackson Hole, Wyo., That the Fed was ready to revive the economy if necessary. Trump did not like the speech because he was not reporting aggressive interest rate cuts and, in a tweet, he asked, "My only question is who is our biggest enemy, Jay Powell or President Xi? " President Xi is Chinese President Xi Jinping.

The Treasury yield fell to 1.528%, against 1.61% Thursday. The note between the 10-year note and the 2-year note has widened to 1.07 basis point.