The world’s biggest investors have lost $436bn, and The Dow has lost nearly 1,200 points in three days.
Wall Street is shocked, but it shouldn’t be: Tariffs targeting China should have been a given, and now the market’s tanking on trade war fears as if it just crept up on everyone, but Trump’s been very clear on this.
Wall Street is known for being short-sighted, though, and allowing itself to get caught up in the euphoria of the day. And now the world’s biggest investors are losing hundreds of billions.
The beneficiaries are gold and treasury yields, with gold rallying and treasury yields declining as investors seek safe havens.
As we head into the market open Monday, the Friday statistics make almost any long-term investment plan look impossible...