Transcript for Dow Jones suffers 4th-largest point drop
Now to the stock market. It’s closed today in honor of former president George H.W. Bush’s funeral coming on that major plunge, the fourth biggest point drop ever. Rebecca Jarvis is on Wall Street and, Rebecca, did a tweet from the president play a role in the drop? Reporter: Well, good morning, Michael. And a key issue here on wall Street is confusion over the true prospects for a deal with China on tariffs. Coming out of the g20 summit it sounded from the white house like there was a very real possibility of a long-term deal being struck, but in a series of tweets yesterday from president trump, we received some mixed signals to that effect. President trump calling himself in those tweets a tariff man saying that a deal will probably happen. Now, keep in mind China and this tariff issue has been a large overhang over the markets for some time now, really over the last three months where you’ve seen stocks drop about 7% and the key question is what impact this prolonged effect tariffs will have on both businesses and consumers. The other major issue here on Wall Street is the U.S. Economy. Today we are on sound footing. The economy continues to grow. You have unemployment at its lowest rate since 1969. Wages are growing and we just came out of one of the most record holiday seasons in terms of Black Friday. But the question is, is this as good as it gets? And with a lot of investors looking at 2019 as a year of things slowing down, that’s what’s making them sell stocks these day, Michael. Thank you, Rebecca. I’m sure it affects retirement accounts out there, as well. New developments in the
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