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July 15th, sources said that after Trumps latest trade tax threat, the European Central Bank will discuss a more negative situation next week than expected in June. The European Central Bank is still expected to keep interest rates unchanged at its meeting on July 24. Discussions on rate cuts have been postponed to September.On July 14, European Commissioner for Trade and Economic Security Šefčović said that if the US-EU trade negotiations fail, the EU is ready to impose additional counter-tariffs on US imports worth 72 billion euros (about 84 billion US dollars). As the EU and the US are working to reach a trade agreement, US President Trump announced on the 12th that a 30% tariff will be imposed on EU imports from August 1. EU ministers held a meeting in Brussels on the 14th to discuss how to respond to Trumps latest statement and prepare countermeasures.Trump: I think we can reach an agreement with Putin.On July 14, Trump said that the United States will send more weapons to Ukraine. This statement shows that his patience is running out as Russia ignores his ceasefire request and intensifies military operations. Trump said: "We will not purchase weapons directly, but will produce them independently, and the relevant costs will be borne by them. The United States will send "the most advanced weapons." Trump did not specify what kind of weapons will be provided to Ukraine, only mentioning that these weapons will be used for supplementary replacement. He also said that if no agreement is reached within 50 days, the United States will impose a 100% "secondary tariff" on Russia. The details of Trumps decision also reflect Trumps priorities: this move will not cost the United States anything, and at least for now, Trump will not invest new US funds in Ukraine. The White House has not immediately explained how Trumps envisioned secondary tariff plan will work, but Trump has previously hinted that these tariffs will target countries that buy Russian oil.Trump: Russian President Vladimir Putin must save his country and economy.

S&P 500 Drops More Than 2% As Traders Rush To Take Profits After Recent Rally

Cory Russell

Aug 23, 2022 14:37

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The Jackson Hole Symposium is being prepared for by traders.


As traders grabbed gains ahead of the Jackson Hole Symposium, which begins on August 25, the S&P 500 came under heavy pressure at the beginning of the week and dropped below the 4150 mark.


Concerns about the impending recession, a strong currency, and increasing rates have all helped to fuel the sell-off. However, it seems that after the robust comeback from June lows, traders were looking for a reason to cut their long holdings.


Bulls are concerned that Fed Chair Jerome Powell, who is set to speak on Friday, would say anything excessively hawkish even if the FedWatch Tool shows that there is a 56.5% likelihood of a 75 bps rate rise.


A 100 bps rate increase now seems very improbable, but traders often experience anxiety when they wish to take some winnings off the table.


Stocks of semiconductor companies fall as yields increase.


Stocks of semiconductor companies took a beating, and Intel dropped to multi-year lows. Today, rivals like AMD and NVIDIA have also seen a 3–4% reduction.


Although the price of certain companies in this market category, such as NVIDIA, has been heavily discounted, semiconductor stocks have been under pressure for months. They could be more susceptible to increasing rates at high valuation levels.


Ford pressured Dow Jones as it said it will eliminate 3,000 employees. Ford said that it intended to concentrate on software and electric cars.


The market is concerned that employment losses indicate that the demand for autos is not as robust as first anticipated. Manufacturers of electric vehicles like Tesla and Rivian have also declined today.


As AMCstock fell on concerns about Cineworld's insolvency, it was a hot day for fans of meme stocks. Concerns regarding Bed Bath & Beyond's financial stability caused the firm to lose more than 15% of its value. Meme stock prices may have difficulties as a result of the current market mood; they may come under more pressure in the future trading sessions.


In general, today's energy was the only place to hide. Due to the robust performance of the oil and natural gas markets, energy equities have gained support. Chesapeake and Range Resources' stock prices moved nearer to their annual highs.

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