In a surprise move, Trump threatened to increase tariffs on certain Chinese goods—and global markets are reeling
Trade worries, which had been simmering, have returned to a boil after President Donald Trump surprised the market with a threat to increase tariffs on goods from China.
But that worry reared its head again Monday, sending investors and traders concerned about the global economic fallout from an intensified trade war out of stocks and into so-called safe-haven assets. As the market has been lured into relative calmness about the trade war given the optimism about a potential deal, it may have been easy to forget that trade issues between the United States and China have remained the biggest overhang to stocks.
Meanwhile, wages rose 3.2% year-over-year in April, the same as the previous month. Some investors came into the report worried that sharp wage gains might put more pressure on the Fed to tighten rates, but this data doesn’t show a big upsurge from previous months. The Consumer Discretionary sector also got a boost Friday as Amazon gained more than 3% after Warren Buffett said in an interview with CNBC that Berkshire Hathaway has been buying shares of the online retailing giant.Compared to last week, this week is fairly light on economic data. Still, investors are likely to pay attention to data on producer and consumer prices.
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