#TrumpSlump Stresses Global Markets
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Wall Street Journal Reports: U.S. Stocks Fall on Fresh Trade Tensions
U.S. stocks fall as a result of Trump's tweet saying he would reintroduce tariffs on steel and aluminum imports from Brazil and Argentina.
“We’ve seen world trade slowing down. The last thing we need is more tariffs to slow it down further,” said Lucy Macdonald, chief investment officer for global equities at Allianz Global Investors. “This has been a major source of concern for investors all year: trade, primarily the U.S. and China, but also the U.S. and everywhere else.”
Technology shares have also dropped, hitting all aspects of the sector from payment processors to semiconductor companies.
Streaming media platform Roku fell 14% after Morgan Stanley lowered its rating for the company to “underperform” from “equal weight,” warning investors that revenue and profit growth would likely slow significantly in 2020.
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