PI Investing in TSE March 23, 2018
On Thursday, the DJIA plummeted 724 points, or 2.9 % underlying mounting concerns among investors about looming tariffs on China. The S&P 500 dropped 2.5 % and the Nasdaq 2.4 %.
The shadow of a global trade war is weighing on the market. If China decides get tough on agriculture or anything else, that will really spook people.
President Trump announced tariffs on about $ 50 billion worth of Chinese imports on Thursday afternoon. The action is aiming at curbing China’s troubling theft of intellectual property.
“We have a tremendous intellectual property theft situation going on,” President Trump said. He also described the U.S. trade deficit with China as “out of control.”
China was threatening to retaliate against the United States immediately, underlying the risk of a tit-for-tat escalation that hurts global trade.
The DJIA dropped by 724.42 points or 2.93 % to 23957.89 while the S&P 500 Index declined by 68.24 points or 2.52 % to 2643.69. The Nasdaq Composite Index fell by 178.61 points or 2.43 % to 7166.68.
The yield on 10 year Treasuries dropped by 6 basis points to 2.82 % while Crude Oil futures closed at $ 64.19 a barrel, declining by 0.98 dollars or 1.5 %.
On Friday the Nikkei 225 Stock Average fell by 974.13 points to 20617.86 after massive sell-offs in NYSE yesterday.
Nippon Yusen (9101) opened at ￥2120 and closed at ￥2087. The high was ￥ 2137 and the low was ￥ 2079. I purchased 2000 shares of Nippon Yusen (9101).