The major indices and currencies went on a wild ride last week with the renewed U.S. and China ramp up the trade war. The Dow dropped 623 points, or 2.4%, S&P fell 2.6%, and the Nasdaq fell 3%.
Gold, volatility (VIX up 19%) and U.S. Treasuries rallied — typical during times of trouble – and stocks and commodities tanked.
Stocks tanked intra-day after Trump’s tweet ordering U.S. companies to seek alternatives to doing business in China. Stocks that manufacture products in China were among the hardest hit.
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