Trump Sends Stock Market Crashing But…
On Wednesday, the stock market was trading higher early in the session. The Dow Industrial Average was up more than 260 points. Then, President Trump took to Twitter.
He announced new tariffs on China. It immediately reversed the stock market advance.
The Dow Industrials closed the day down 280 points. It was an intraday reversal of more than 540 points.
|Dow Jones Industrial trading Wednesday, August 1, 2019|
This will surely bring the Austrian-lites out of hibernation.
They have been calling for a break in the stock market since the Fed’s first rate hike of this cycle in December 2015. They have missed an advance of more than 15,000 points in the Dow.
But they will be wrong again. Tariffs are horrific for an economy but there is a more powerful force that will continue to drive the stock market and economy higher for the time being. Specifically, the lastest money supply data was also out yesterday and it is showing something right now that is very rare to see. I think it might be the most important event of this entire Fed-created boom cycle that has been on going since 2009. It could rock markets. Don’t miss my deep dive analysis at the EPJ Daily Alert on what is really going on.
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