China and Trump work hard on taking down the market today. China implements several billion dollars worth of US tariffs on 120 different US products, which renewed the occurance from a Trade Spat to a Trade War between the world 2 biggest economies.
Trump’s Monday tweet pushed negative sentiment against Amazon and took down it’s stock price by 5%.
Today’s rout is being lead by the Fang stocks, as Facebook, Netflix are joining Amazon’s woes. This negative push by the market’s darling stocks that lead the market on the way up, are now leading on the way down. Technical break down indicates today’s fall could be the start of another big move downward.
STA Research
