It’s been a busy day in the news.
Understandably, not everyone can keep up with the various coverage, so let’s go over the top stories from today.
The possibility of a trade war is obviously on everyone’s mind. In fact, President Donald Trump threatening an additional $200 billion in tariffs on China is such a big deal that the wrap-up will feature only one other topic from today’s news cycle. The child separation policy has been dominating the news cycle since the media caught wind of the way that children in immigration detention centers are being treated.
Trump vs. China
Late Monday evening, Trump announced that he was considering enforcing an additional $200 billion in tariffs on China.
China announced that it would retaliate.
The market, naturally, tail-spinned at the news. Most stocks went red in return. With the exception of Netflix Inc.
Boeing Co., which has a heavy international presence, dropped nearly 4%.
Chipmakers also dropped at the news of a possible trade war between the U.S. and China.
But, let’s also go over the political ramifications.
The White House believes that it would be able to beat China in a trade war, according to The New York Times. Obviously, this is a cause for alarm for investors. Trump is threatening to enact $450 billion worth of tariffs on China, which is a major supplier for companies like Apple Inc. (AAPL – Get Report) , which is holding in Jim Cramer’s Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL ?…