Saturday, 24 March 2018

Markets plunge amid trade war uncertainty

Markets fell on Friday.

The S&P 500 tumbled 2.1 percent, the STOXX Europe 600 fell 0.9 percent and the Nikkei 225 plunged 4.5 percent.

A CNBC report suggested that concerns about trade wars or other White House drama will be the market focus in the week ahead.

"It's a cumulative air of uncertainty with the escalation of trade tensions and the personnel turnover [at the White House], along with the signal that lower yields, higher oil prices are sending investors," said Julian Emanuel, chief equity and derivatives strategist at BTIG.

"The S&P 500 hit the 200-day right as the market closed, and it didn't have time to react there. You could either have a Black Monday-type day or not," said Scott Redler, partner with

While Emanuel thought that "next week is potentially a quiet week", Patrick Kernan, principle with Cardinal Capital, said "the moves are going to be much more violent next week".

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