President Donald Trump criticized China on Friday, saying it “played it wrong” and “panicked”, after China announced retaliatory tariffs which sent U.S. stock markets tumbling.The Dow closed down 2,200 points on Friday, with the S&P dropping 6% and the Nasdaq falling 5.8%.This rapid rate decline put the stock market at risk of triggering a circuit breaker, which would temporarily pause market-wide trading.In 2020, it was triggered four times at the beginning of the COVID-19 pandemic.Global giants like Apple, Microsoft and Amazon saw their shares plummet Thursday and Friday.Financial planners said because the future of Trump’s tariff policy is unknown, people should invest in retirement and trade as normal for now.”Don’t get spooked and change it just because of the unknown, have a plan and have that plan have your risk levels be something you’re comfortable with in good times and bad to withstand it,” said Brad Wright, of Launch Financial Planning, which is based in Andover, Massachusetts.Economic experts warn the long-term effect could result in a mild recession.Friday’s dramatic stock market fall follows a better-than-expected jobs report, which came out Friday morning.
President Donald Trump criticized China on Friday, saying it “played it wrong” and “panicked”, after China announced retaliatory tariffs which sent U.S. stock markets tumbling.
The Dow closed down 2,200 points on Friday, with the S&P dropping 6% and the Nasdaq falling 5.8%.
This rapid rate decline put the stock market at risk of triggering a circuit breaker, which would temporarily pause market-wide trading.
In 2020, it was triggered four times at the beginning of the COVID-19 pandemic.
Global giants like Apple, Microsoft and Amazon saw their shares plummet Thursday and Friday.
Financial planners said because the future of Trump’s tariff policy is unknown, people should invest in retirement and trade as normal for now.
“Don’t get spooked and change it just because of the unknown, have a plan and have that plan have your risk levels be something you’re comfortable with in good times and bad to withstand it,” said Brad Wright, of Launch Financial Planning, which is based in Andover, Massachusetts.
Economic experts warn the long-term effect could result in a mild recession.
Friday’s dramatic stock market fall follows a better-than-expected jobs report, which came out Friday morning.
