U.S. stocks plunged, with the Dow Jones Industrial Average tumbling almost 800 points, as a litany of concerns wiped out the rally in risk assets.
Trade-sensitive shares sank as angst mounted that the U.S. and China made no meaningful progress on the trade front this weekend. Financial shares got hammered as the yield curve continued to flatten, with the latest nudge from a hawkish comment by a Federal Reserve official.
President Trump said that protections on steel and aluminum imports were in the interest of national security. But could the threat be the tariffs themselves?
A nice breakdown of the history of trade in the 20th century.
Others could follow Washington's example to justify tough trade restrictions, it says.
Alexis Madrigal brings you the gripping story of how a new way of shipping stuff across the ocean fed the Vietnam War, destroyed America's great port cities, and created global trade as we know it.
With a penstroke, President Trump withdrew the U.S. from Trans-Pacific Partnership, imposed a federal hiring freeze, and reinstated the ‘Mexico City policy’ on defunding international abortion-related services.
I have a sinking feeling that he spent more time actually signing these than he did reading them.