How S&P 500 Futures Performed On Trump "Tweet Bombs"

August 23, 2019 05:24 PM
China reports implementing tariffs on U.S. Goods and market falls
Trump tweets and bashes Fed Chairman Powell and China
Trump tweets in response to China and raises tariffs on the remaining $300 billion of goods
Trump "Twitter Tape Bombs"

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Friday was a crazy market and news day with the S&P 500 futures falling over -70 points or -2.5%. Traders were glued to Twitter waiting for any news release from President Trump.

By the way, Twitter News Is Better Than Bloomberg (and it's free).

How S&P 500 Futures Performed On Trump "Tweet Bombs"

Tweeter Storm

Timeline of Twitter Tape Bombs

 

7:00 am CST - China reports implementing tariffs on U.S. Goods and market falls.

9:57 am CST - Trump tweets and bashes Fed Chairman Powell and has a strong response to China. Warns of afternoon response to China tariffs. The market falls -41 S&P 500 points or -1.4%.

4:01 pm CST  - One minute after the CME Group S&P 500 futures close for the weekend, Trump tweets strong message back at China and raises tariffs on the remaining $300 billion of goods and products from China, that was being taxed from September 1st at 10%, will now be taxed at 15%. Oh no, he doesn't stop there,  starting on October 1st, the $250 billion of goods and products from China, currently being taxed at 25%, will be taxed at 30%. 


I hope Goldman Sachs traders got the memo to go home short stocks over the weekend.

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