Stocks most damaged as trade war escalates between the United States and China.

Yan Zhang, USA Today
Published 6:04 pm ET 17 May 2019 | Updated 6:12 pm ET May 17, 2019


Business executives at a trade event in Denver on Tuesday said that Trump's proposed 25% wide range of Chinese merchandise tariffs would mean higher costs to be passed on to consumers if tariffs come into force . (May 14)


The stock market has experienced an uneven two weeks since President Trump said he would raise tariffs of $ 200 billion in Chinese imports from 10% to 25%, giving some winners and losers.

The damage spread this week after China said it would increase retirement taxes on US exports to that country by as much as 25%.

While the industrial product in Dow Jones has paired huge losses several times during the period as hope of settling wax and departing with every Trump Tweet or White House update, Dow is down 178 points, or 0.7%, this week after have recovered much of the losses suffered Monday and Tuesday. It has also dropped 741 points, or 2.8% over the last two weeks.

Dow quit 99 points Friday to Friday, 25 764, although investors are still encouraged by signals that Washington and Beijing are still planning to continue negotiations.

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Here are the companies with the steepest percentage decline:

Intel is the biggest Dow loser and went 10.71% since the president first tweeted about higher rates May 5 . Almost 27% of sales came from China in 2018, according to Statista.

Another poor performer is Apple, which has fallen 9.46%. The company both collects and sells products in China, making it sensitive to price increases that dampen Chinese consumer confidence

Although the tariffs have not yet affected Apple's products, the company will be hammered if the trade war escalates further to include all Chinese imports into the United States The technology company has more Chinese suppliers than ever, according to the supplier list. China, including Hong Kong and Taiwan, accounted for 19.2% of Apple revenues) in 2018.

Caterpillar, Boeing and 3M have also been hit by commercial war fears.

Caterpillar shares have tumbled around 9%. China's sales make up 5% to 10% of Caterpillar's total sales, the company said. The giant sales of construction and mining equipment in the Asia-Pacific region climbed in 2018 due to the growing demand in China.

The 3M stock went 8.5% as the conglomerate cut its forecast for 2019 due to weak demand in China earlier this year and it said it would add 2,000 workers. Asia Pacific is the 3M largest market outside the US

Boeing is down more than 5%. More than half of all commercial jets flying in China are made by Boeing. Boeing generates more than $ 1 billion in finance activity in the country, according to the company.

A major global share price decline came after President Trump tweeted on May 5.

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Meanwhile, some companies do not show scars from trade war. The top five Dow winners include Chevron, United Health Group, Travelers Cos, Cisco Systems and McDonald's.


President Donald Trump is a self-protected "Tariff Man" whose hawkian view of commerce rarely represents a constant in his flexible ideology. But his claims of commercial policy suggest that he cannot, or will not, understand the foundation of the problem. (May 14)

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