The bloodbath on Wall Street continues this week as President Trump decided to wake up and choose violence against equity holders and bond bears heading into the Memorial Day weekend.
The fact that Trump still has his own social media website means he can make policy proclamations, whether he follows through on them or not, which move markets like this morning. For example, here is his first “Truth” this morning in a direct attack against Tim Cook and Apple:
Needless to say, everyone who is not part of the Trump inner circle is looking at this and thinking enough is enough.
Of course President Trump followed up to that posting with another one at 7:43 a.m. where he unloads on the European Union:
President Instability strikes again.
And markets across the board will pay a price. While the US Dollar rallied off of its lows a little, the markets voted once again by fleeing to the safest dirty kimono in the world.
Of course the other flight to safety outlet has jumped about $60 thanks to his thumbs and his cell phone also:
As yours truly stated in the chart above, one day, one Truth too many, and one angering of our trade partners to the point of current no return, and the President will break down below long term technical support levels creating a real financial crisis the markets will not be able to repair for months or years.
Enjoy your Memorial Day Trade War weekend.
