Fed Chair Jerome Powell says the central bank is 'closely monitoring' America's trade disputes and will 'act as appropriate' to sustain economic growth. His remarks are helping to send the Dow toward its best day since February.
From CNN Business' Christine RomansNasdaq officially entered correction territoryHundreds of billions in market value have been stripped from the so-called FAANG stocks in the past few weeks, dragged down first by trade-war escalation and second by newMarkets look buoyant this morning but much of the headline chatter is negative. As the trade war worsens, China has warned its citizens against US travel.
The Secretary of State issued a harsh rebuke of China's human rights record on the 30th anniversary of the massacre of democracy protesters at Tiananmen Square."the United States hoped that China’s integration into the international system would lead to a more open, tolerant society. Those hopes have been dashed."30 years of American strategy to invite China into the global system has failed.
Meantime, economists nervously eye economic data for signs of softening, as investors have fled to the safety of Treasury notes, pushing yields on the 10-year below 2.1% this week.for the year, just ahead of the benchmark S&P 500 —
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