Dow Jones industrial average loses more than 600 points, or 2.4%, after Trump demands companies stop doing business with China – The Washington Post


President Donald Trump demanded U.S. companies stop doing business with China and questioned whether the Federal Reserve chairman was a bigger enemy of the U.S. than Beijing’s leader Friday, capping one of the most extraordinary days in the long-running U.S.-China trade war.

The president’s Twitter tirades, in response to China’s move to impose retaliatory tariffs on $75 billion in American goods, sent the Dow Jones Industrial Average tumbling 600 points, or nearly 2.4 percent, by the end of trading and provoked an immediate negative reaction from the business community.

The extraordinary events began unfolding when China announced it would levy new tariffs on $75 billion in goods, including reinstated levies on auto products.

Donald J. Trump

@realDonaldTrump

As usual, the Fed did NOTHING! It is incredible that they can “speak” without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work “brilliantly” with both, and the U.S. will do great…

Donald J. Trump

@realDonaldTrump

….My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?

 

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