We are possibly being PLAYED by CHINA (Think TWICE before Selling at DISCOUNTED VALUATIONS - Talk to a Professional)
October 10th of this year is when the initial sell off in the US was sparked. On this day, FXI (China Large Cap Index), was at $39.43. This past Monday it closes at $38.67, down just about 2%.
US Indexes since October 10th.
SPY (S & P 500) -18.93%
QQQ (Nasdaq 100) -20.51%
DIA (Dow Jones) -17.74%
IWM (Small Caps) -21.91%
1/3 of 1700 stocks that I follow lost almost 21% of their value during this time.
What I find fascinating is that 10-10 is the Double Tenth Agreement - Formation of Communist China otherwise known as The National Day of the Republic of China.
This is quite a coincidence that this date was only 16 days after US announced $200 Billion in additional tariffs after China canceled trade talks with US on 9/22.
Perhaps China is trying to Antagonize TRUMP to go after the Federal Reserve (because he TWEETS) and they decided to lean on Market Weakness that coincided with Fed Action to Exacerbate his View of the Fed. China might be attempting to Undermine TRUMP to hurt his Negotiating Stance in Trade Dispute.
Disclosure: I am/we are long DIA.
Additional disclosure: I am currently NET LONG and Find US Valuations Extremely attractive