By Ana Swanson @ NYTimes.com, March 1, 47 mins. ago The trade measures would take effect next week, imposing tariffs of 25 percent on steel and 10 percent on aluminum. President Trump promised they would be in effect “for a long period of time.” Stocks fell as Mr. Trump announced the move, with the industrial sector seeing the steepest declines.
2) Hospital admissions in UK for COVID have soared 21% compared to last week. These are 7 day averages so they aren’t just random flukes. https://t.co/O3gZLdsVRp Eric Feigl-Ding (@DrEricDing) March 9, 2022
holdlers, folks crypto investors, and sometimes meme stock investors, whether it be game stop or amc that say hold, you have to hold. in some cases they say stack, you have to buy. this has been a real moment, an inflection point. you ve seen the price of bitcoin basically we re at about 50% off of its highs. i think it s raising some questions in that world for the first time in quite some time now about whether some of these more speculative investmentings as neil was saying are good buys. they clearly have not proven to be. if you spend enough time on some of these reddit boards, there s now folks asking those questions. i think there s a dynamic change that might be upon us, and as neil said, i think to some degree jay powell and the federal reserve may be happy about that. encouraging day traders to stack, lever up on crypto investments. we have seen this movie before. good luck to you. andrew ross sorkin, neil irwin,
the nasdaq dropping 5% before going back up while the dow closed up after falling more than a thousand points. let s find out what in the world is going on with andrew ross sorkin, co-anchorcnbc. and axios chief correspondent neil irwin. yes, there are geopolitical concerns with the tensions with russia, but also people are worried about rates rising. are they forgetting that rates rising, all of this is a sign that we have a strong economy, that the federal reserve no longer needs to breast-feed the stock market indefinitely? so, let me take two parts of that. first, i think the geopolitical issue is a real one and a real risk, but that s not what s been moving the market. what is moving the market is what the federal reserve may or may not do, and effectively whether they re going to hike rates and how fast they re going to hike rates and what that does to demand. are they effectively dampening
demand. it s very hard for them to change the supply issues that we have in this country right now. it s another thing for them to change the demand picture, and there s what this is all about. if they do change the demand picture, it raises all sorts of questions for how much risk investors going to take, and you re seeing that play out in the context of perhaps the most riskiest stocks, typically ones in the tech sector, considered growth stocks in some cases that don t have earnings. and so that s what i think is happening right now, and you saw that a little bit of a washout yesterday, the market looks like it will open down today after what there was sort of a big pullback roller coaster. but i think we re in for in terms of the markets a lot of volatility and a lot of eyes on what jay powell, the head of the federal reserve, is going to say on wednesday. but, neil, isn t a lot of volatility really bringing us back to keeping it real? why should stocks be trading