“Asian exporters took a heavy hit Tuesday, with China stocks suffering their lowest close in two years, following President Donald Trump’s announcement of potentially $400 billion in additional tariffs against imports from that country,” Dow Jones Newswires reports.
“China stocks closed at their worst levels since June 2016 following Monday’s holiday and amid increased trade tensions with the U.S.,” Dow Jones Newswires reports. “The Shanghai Composite fell 3.8% to and the Shenzhen Composite slid 6% to 1,666.66, its worst finish since September 2015.”
“Apple Inc. suppliers’ stocks were hit hard around the region, despite a report that U.S. tariffs would spare iPhones produced in China,” Dow Jones Newswires reports. “iPhone-camera maker Cowell E Holdings slumped 12% in Hong Kong to fresh record lows, while smartphone-lens maker Sunny Optical pulled back 5.3% and acoustics firm AAC Technologies dropped 3.3%. In Taiwan, Sunny peer Largan Precision ended down 5.2%. Apple product assembler Hon Hai Precision Industry dropped 2.4%.”
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MacDailyNews Take: Emotion is a necessary component of negotiation.
When the final result is expected to be a compromise, it is often prudent to start from an extreme position. ― John Maynard Keynes
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