The market’s reaction is a bigger danger to the economy than the direct effect of tariffs, writes Jmackin2
For the past two weeks that reality has been pretty unpleasant.
Three-quarters of stocks in the S&P 500 as well as 95% of stocks in Goldman Sachs’s high China exposure list are down since President Trump made clear in tweets earlier this month that the trade war was back on. Bond yields have also tumbled.
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