U.S. benchmark stock indexes fell sharply on Monday, undermined by weakness in the technology sector while a growing trade dispute with China has investors pulling back on concerns over economic growth.
David Kotok said, “this is a Donald Trump market reaction. The president and his behavior and his tariff trade barrier policy and his bellicose bullying are responsible for the stock market selloff. The Chinese are matching the U.S. one-for-one and we are now engaged in a very dangerous game.”
“The man attacks viciously, so he has attacked Jeff Bezos and Amazon, he`s attacked one of the two largest trading partners of the US, and his White House is in full disarray.”
“Markets have broken down, so the momentum optimism has been broken; how much farther they go down remains to be seen. I`m taking advantage of these markets and am heavily overweighted financials and banks. I didn’t buy today, we`re in free-fall, but I might tomorrow.”
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