Horizons S&P 500 Covered Call ETF (HSPX) Rises 1.6% for April 5

Horizons S&P 500 Covered Call ETF (HSPX) Rises 1.6% for April 5

Horizons S&P 500 Covered Call ETF (HSPX) Rises 1.6% for April 5

Investors were unnerved by President Donald Trump's threats of tariffs on an additional US$100 billion in Chinese imports as the USA president hit out at China's "unfair retaliation" to a prior Trump announcement of US$50 billion in tariffs on Chinese goods. The Philadelphia semiconductor index fell 3.1 percent.

"The market has vacillated between writing it off as just talk and assuming there could be a serious problem", said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey. The FTSE 100 in Britain lost 0.2 per cent. The president's top economic adviser said the U.S. and China are holding "back-channel discussions" to resolve an escalating trade dispute that has unsettled global financial markets.

USA stocks tumbled Friday, with the Dow Jones industrial average falling more than 700 points, or about 3% at its lowest point, as fears of a global trade war continued to mount.

A rough end to the week in the financial markets as the Dow Jones plunged 572 points amid escalating concerns over a trade war with China.

US President Trump said he is considering tariffs on an additional 100 billion dollars-worth of Chinese imports, and China has warned that it is ready to retaliate.

In a tweet Friday, Trump also criticized both China and the World Trade Organization, saying that the Chinese "get tremendous perks and advantages, especially over the U.S. Does anybody think this is fair".

"Markets are forced to confront the idea that rates are going up and the stock market is not going to derail that process", McMillan said.

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"So the ability of the equity markets to push significantly lower is going to be limited", said John Brady, senior vice president at R.J.

Benchmark U.S. crude dropped $1.48, or 2.3 per cent, to $62.06 a barrel in NY while Brent crude, used to price global oils, lost $1.22, or 1.8 per cent, to $67.11 per barrel in London.

Mnuchin said that a stock market correction was normal after such a long stretch of rising prices. The Russell 2000 index of smaller-company stocks dipped 19 points, or 1.2 per cent, to 1,523. Caterpillar fell 3.5 percent.

Jason Pride, chief investment officer for Glenmede's private client business, said Trump's latest order caught investors off guard.

The Dow Jones and S&P 500 each made all-time highs earlier this year of 26,616.71 and 2,872.87, respectively. But even though investors are optimistic about the state of the global economy and company profits continue to grow, Nixon said the administration is creating the thing investors hate the most: uncertainty.

Around two-thirds of the time, the descending triangle patterns result in lower prices.

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