11/07/18

"Past Point Of No Return": World Markets Tumble Amid Global Trade War Shockwaves



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"Past Point Of No Return": World Markets Tumble Amid Global Trade War Shockwaves
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In almost every way, the overnight trading action has been a mirror image of the ramp observed on Monday morning, when trade tensions - inexplicably - were said to have "gone away" leading to a furious global rally.

Not so much today, when hours after Trump launched the latest round of trade war - at the worst possible time according to bulls, just ahead of earnings season, once again spoiling the positive effect of what is set to be another 20%+ EPS rise for the S&P - by pushing ahead with plans to impose tariffs of 10% on an additional $200 billion of Chinese goods by releasing a list of targeted products that includes consumer items such as clothing, television components and refrigerators, global stocks are a sea of red amid a worldwide market selloff as traders realized that not only is trade war not hibernating, but it is set to keep getting worse as Steven Englander explained last night, as escalation has now crossed past "the point of no return."

While the duties have some time before taking effect, and the soonest they could be ....

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