Trump’s decision on taxes comes only a day after the European Central Bank decided to hold off on raising rates until mid-2019 at least.
The S&P fell by 0.11% or 3.07 points. The Nasdaq fell by 0.19% or 14.66 points. And the Dow Jones Industrial Average fell by 0.34% or 84.83 points. The news hit emerging markets very hard, resulting in a fall of 1.06%.
Oil Markets
Worldwide oil markets are concerned about increased supply. U.S. Crude is on their biggest fall since May 15, as they ended the week down by 1.3%. Brent lost 4% this week.
The Organization of Petroleum Exporting Countries is having a meeting next week in Austria, Vienna. They are meeting with the two biggest oil producers – Russia and Saudi Arabia. These countries stated that they are prepared to increase their production.
Questions from the American People:
- How long will it take for the market to adjust to the increased taxes between China and the U.S.?
- Is now the time to invest in other countries’ economies?
