All the Stuff Bugging the Stock Market That Isn’t Impeachment
- China said to doubt long-term trade deal with U.S. is possible
- Weak manufacturing data, rise in jobless claims weighs on S&P
A container ship sits anchored at a terminal in Shenzhen, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Surprise, Donald Trump says his enemies are killing the stock market again. A quick perusal of the S&P 500’s swings this morning shows investors have more on their minds than the impeachment hearings.
As can be seen in the chart below, index futures suffered almost all their losses in two distinct swoons today, one starting around 5 a.m., the other after markets opened. And those drops followed two clear helpings of bad news: first, a Bloomberg News story that Chinese officials are casting doubt about a comprehensive trade deal, the second around 9:45 a.m. when the Chicago PMI printed weaker than expected.