, Columnist
Global Stock Sell-Off Exposes Stretched Valuations
The declines so far have been unremarkable, as well as healthy. Also, Tuesday’s true surprise happened far from Wall Street.
The stock market is showing some cracks.
Photographer: Drew Angerer/Getty Images North AmericaThis article is for subscribers only.
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The market has grown accustomed to regarding President Donald Trump’s tweets as background noise, but the one over the weekend predicting a massive increase in tariffs on China was an exception. Then came Tuesday, and a post on the WeChat account affiliated with the People’s Daily, which is the flagship newspaper of the Chinese Communist Party. Surely with the approval of authorities, it warned the U.S.: “Don’t even think about it.”