TAKE A LOOK
Started by
.Blizzard
, Mar 30 2007 11:46 AM
4 replies to this topic
#2
Frac_Man
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Hank Wernicki M.A.
#3
.Blizzard
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Posted 30 March 2007 - 11:56 AM
Yen Falls ??? FUNNY
#4
.Blizzard
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Posted 30 March 2007 - 01:10 PM
Stocks fall on U.S.-China trade rift, Iran tensions
NEW YORK (MarketWatch) -- U.S. stocks fell on Friday, with the Dow Jones Industrial Average briefly losing over 100 points, after news that the U.S. has imposed trade sanctions on China and as tensions over a stand-off between Iran and the UK kept oil prices near $66 a barrel.
After earlier rising by over 65 points, the Dow Jones Industrial Average ($INDU : Dow Jones Industrial Average reversed course and was last down 19 points at 12,330. The Dow earlier fell by over 100 points to a low of 12,242.
The blue-chip average is also on track to post losses for the first quarter, which would be its first quarterly decline since the second quarter of 2005.
U.S. sanctions stun market
Stocks and the dollar turned around in late morning trade, after the Commerce Department announced the sanctions in connection with a dispute over paper subsidies.
"We haven't seen the exact percentages yet, but this represents a 20-year break in U.S. trade policy and potentially a watershed in US/Chinese trade relations," said Brian Dolan, director of research at Forex.com. "The obvious impact is going to be felt in dollar/yen which is already collapsing."
The sharp drop in the dollar reflects concerns that China may sell, or simply stop buying, U.S. assets -- mostly Treasury bonds -- which could lead to a spike in interest rates and further weaken a slowing U.S. economy. There are also concerns that higher Chinese import prices might further hurt consumption. See Currencies.
"Anti-China protectionist legislation will backfire -- resulting in the functional equivalent of a tax hike on the U.S. consumer, as well as reduced Chinese demand for U.S. Treasurys," said Morgan Stanley chief economist Stephen Roach said in research note earlier Friday.
NEW YORK (MarketWatch) -- U.S. stocks fell on Friday, with the Dow Jones Industrial Average briefly losing over 100 points, after news that the U.S. has imposed trade sanctions on China and as tensions over a stand-off between Iran and the UK kept oil prices near $66 a barrel.
After earlier rising by over 65 points, the Dow Jones Industrial Average ($INDU : Dow Jones Industrial Average reversed course and was last down 19 points at 12,330. The Dow earlier fell by over 100 points to a low of 12,242.
The blue-chip average is also on track to post losses for the first quarter, which would be its first quarterly decline since the second quarter of 2005.
U.S. sanctions stun market
Stocks and the dollar turned around in late morning trade, after the Commerce Department announced the sanctions in connection with a dispute over paper subsidies.
"We haven't seen the exact percentages yet, but this represents a 20-year break in U.S. trade policy and potentially a watershed in US/Chinese trade relations," said Brian Dolan, director of research at Forex.com. "The obvious impact is going to be felt in dollar/yen which is already collapsing."
The sharp drop in the dollar reflects concerns that China may sell, or simply stop buying, U.S. assets -- mostly Treasury bonds -- which could lead to a spike in interest rates and further weaken a slowing U.S. economy. There are also concerns that higher Chinese import prices might further hurt consumption. See Currencies.
"Anti-China protectionist legislation will backfire -- resulting in the functional equivalent of a tax hike on the U.S. consumer, as well as reduced Chinese demand for U.S. Treasurys," said Morgan Stanley chief economist Stephen Roach said in research note earlier Friday.
Edited by .Blizzard, 30 March 2007 - 01:20 PM.
#5
chris
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Posted 30 March 2007 - 01:59 PM
Here's the main reason I sold:
