Stock market today: Dow sinks 700 points, S&P 500, Nasdaq plummet as Trump threatens 'massive increase' on China tariffs
US stocks closed sharply lower on Friday as President Trump and China traded blows on tariffs, with Trump threatening a “massive increase” in duties on Chinese goods.
The Dow Jones Industrial Average (^DJI) lost 1.9%, or over 870 points, while the S&P 500 (^GSPC) fell roughly 2.7%.
Read MoreUS stocks crash after Trump’s fresh China tariff threat; S&P 500 logs worst day since April
A monthslong calm on Wall Street was shattered Friday, and U.S. stocks tumbled after President Donald Trump threatened to crank tariffs much higher on China.
The S&P 500 sank 2.7 per cent in its worst day since April. The Dow Jones Industrial Average dropped 878 points, or 1.9 per cent, and the Nasdaq composite fell 3.6 per cent.
Read MoreMore than four million Aussies more likely to purchase cryptocurrency after new laws legislated, YouGov data shows
Millions of Australians are more likely to purchase cryptocurrency after the government legislates changes to regulate the volatile assets.
YouGov data shows more than four million Australians who do not own cryptocurrency are more likely to purchase the digital assets when they are regulated.
It comes as Labor has released draft laws for its digital currency legislation.
Read MoreDiscover Why Warren Buffett's Trusted Advisor Warns Against Diversification for Some
Key Takeaways
- In contrast to most financial advisors, Munger called wide diversification “protection against ignorance,” useful only when you don’t have conviction.
- Holding too many positions, he argued, can raise costs, blunt big winners, and still leave you exposed to market shocks.
Energy Transfer: Pointless To Fight Against The Market (Rating Downgrade)
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Read MoreThe Burst
Forget Tesla, This EV Stock Just Got a Billion-Dollar Lifeline
If you’ve spent any time watching the electric vehicle space, chances are you’ve already dug into Tesla. But as Tesla enters its next phase of maturity, investors with an eye for disruption might want to turn their attention to a different name, one that’s flying under the radar but could be setting up for a breakout.
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Read MoreThe Ivy
Why Nucor’s Stock Dip Could Be a Golden Opportunity in Disguise
Nucor (NYSE: NUE) isn’t just another steelmaker churning out metal for skyscrapers and rebar. It’s a powerhouse that has weathered economic storms, steel cycles, and shifting energy costs, all while steadily raising its dividend for over the past half century.
Yet, despite that remarkable consistency, investors seems to be snoozing on Nucor right now so is it time to buy?
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Read MoreThe Spotlight
Deep Dive, How High Will This New Bank Go?
Since SoFi’s CEO began snapping up shares of the student lender, the price has approximately doubled. It’s not entirely a surprise given that SoFi is an all-in-one fintech firm offering personal loans, home mortgages, car loans, credit cards, and digital banking. Over and above the broad array of products it’s grown like a weed on the customer front too.
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