The Trump Golden Age™ continued Friday as the Dow Jones Industrial Average dropped 351 points and the S&P 500 headed for its fifth consecutive losing week within minutes of the opening bell on the New York Stock Exchange, CNBC reports while blaming the person most responsible for it.
“Companies are increasingly citing confusion and uncertainty around their planning, capital spending, and hiring decisions – and when they pause, it means that they’re slowing down,” said egghead Mike Green at Simplify Asset Management. “There’s an element of that playing out.”
Another gloomy bellwether came from FedEx’s earnings outlook, the shipper’s shares taking an 11 percent hit after cutting its profit forecast due to – you guessed it – uncertainty over tariffs.