The news cycle can teach us important economic and personal finance lessons. Here are my picks for 2018. Happy New Year!
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It was an exhausting week for investors, even though there were only four trading sessions. Monday’s U.S.-China 90-day trade “time out” stock bounce was dwarfed by big sell-offs throughout the rest of the week. The drubbing began after the President’s tweet that he is a “tariff man,” shortly followed by another, which questioned whether a “real deal” with Beijing is actually possible.
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Five days after implementing tariffs on $34 billion worth of imported Chinese goods, the Trump administration released a list of an additional $200 billion worth of Chinese imports that will be subject to a 10 percent tariff. On the day of the announcement, stocks slid, but only by about a half of a percent. By the end of the week, it seemed like investors had forgotten about the announcement and instead were focusing on corporate earnings and the strength of the economy.
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Just as fast as you could say Smoot-Hawley Tariff Act of 1930 the U.S. - China tariff tiff entered Round 3 last week. As a recap, here’s where we stand:
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