New York Times (November 6)
“President Trump’s barrage on global trade appears to have taken a hit” during questioning in front of the Supreme Court. “Concerns are growing that the Supreme Court could scramble the Trump administration’s tariffs strategy. That may be welcome news for free-trade advocates, but it could also unleash more uncertainty for businesses and Wall Street.” Market reaction was rapid as “the yield on 10-year Treasury notes spiked to 4.15 percent,” a sell-off that suggests “bond holders are fretting that an adverse ruling could deprive the government of revenues needed to offset the federal deficit.”
Tags: Barrage, Bond holders, Businesses, Free trade, Fretting, Global trade, Market reaction, Revenues, Scramble, Sell-off, Supreme Court, Tariffs strategy, Treasuries, Trump, Uncertainty, Wall Street, Yield
Institutional Investor (March 12)
“February was a disaster for many biopharma, life sciences, and other health care hedge funds. Most lost money, several by double-digit rates, and as a result were in the red heading into March.” Whether the Trump administration will “slow down or pause the approval process for drugs currently in development” is making investors “jittery.” On top of that, “the stock market’s general volatility and sell-off have been especially rough on fledgling companies with little or no revenue and earnings — including this sector — exacerbating investor concerns.”
Tags: Approval process, Biopharma, Development, Disaster, Drugs, February, Health care, Hedge funds, Investors, Jjittery, Life sciences, Sell-off, Stock market, Trump administration, Volatility
New York Times (March 11)
“A new round of tariffs on aluminum and steel went into effect overnight. This time, no U.S. trading partner was spared.” The EU will respond with “$28 billion in retaliatory levies next month on American products, including bourbon, jeans and agricultural products.” While EU officials “hope they can still strike a deal…. President Trump seems determined to stick with his protectionist policies.” Immediate market reaction was muted, though “the sell-off has wiped roughly $4 trillion off the benchmark index in less than a month — as concerns grow that the levies will push up prices and slow growth.”
Tags: $4 trillion, Agricultural products, Aluminum, Bourbon, EU, Growth, Jeans, Market reaction, Prices, Protectionist policies, Retaliatory levies, Sell-off, Steel, Tariffs, Trading partner, Trump, U.S.
Financial Times (August 7)
The equity sell-off in the U.S. “could have triggered the unwinding of the carry trade, not the other way around. And the timing suggests this is what happened. The equity sell-off did not start in earnest until Friday of last week — two days after the BoJ raised rates, or after currency traders had time to digest the news.”
Tags: BOJ, Carry trade, Currency traders, Equity, Rates, Sell-off, Triggered, U.S., Unwinding
Financial Times (June 5)
“India’s benchmark Nifty 50 rose 2.3 per cent following a sharp sell-off on Tuesday after a shock election result.” Meanwhile “Japan’s Topix index led losses as it dropped 1.4 per cent, driven lower by a decline in the financial and energy sectors. The yen was the region’s worst-performing currency as it fell 0.6 per cent against the dollar to ¥155.75.”
Tags: Benchmark, Currency, Decline, Election, Energy, Financial, India, Japan, Nifty 50, Sell-off, Shock, Topix, Worst-performing, Yen
New York Times (September 28)
“Stocks are heading for their worst month of the year as a triple whammy of soaring bond yields, rising oil prices and slowing growth trigger a widespread sell-off, even in once-loved mega-cap tech companies.”
Tags: Bond yields, Mega-cap, Oil prices, Sell-off, Slowing growth, Stocks, Tech companies, Triple whammy, Worst month
Nikkei Asia (October 31)
“A record sell-off of China stocks has revealed investors’ fears over the country’s largest companies after Xi Jinping secured his third term,” cementing his grip on leadership. Any hopes “that China’s down-beaten tech sector would revive” or that more open borders might “boost the economy were apparently dashed” when the CCP’s national congress affirmed a Politburo Standing Committee most “notable for a lack of reform-minded top leaders.”
Tags: Borders, CCP’s, China, Companies, Dashed, Down-beaten, Economy, Fears, Grip, Hopes, Investors, Leadership, Politburo Standing Committee, Record, Reform, Sell-off, Stocks, Tech sector, Xi
Washington Post (May 20)
“Cryptocurrency investors woke up to grim news Wednesday: A brutal sell-off sent prices crashing across the board, wiping more than half a trillion dollars off the market.” It’s unclear if or when the dramatic turnaround will end. The cryptocurrency market “has roared since the coronavirus pandemic first gripped the world,” with “hordes of new investors…drawn by the allure of sudden price spikes and life-changing winnings.”
Tags: Allure, Brutal, Coronavirus, Crashing, Cryptocurrency, Investors, Life-changing, Pandemic, Price spikes, Sell-off, Winnings
Investment Week (May 18)
“Credit fundamentals have worsened since the market sell-off began, although central banks could provide some companies with a soft landing and many firms have drawn on their credit lines in a bid to stay afloat.” Even though “the impact is highly correlated across geographies, industries and asset classes…the potential outcomes are too severe to only affect equities and credit-market fundamentals have undoubtedly been impacted.”
Tags: Asset classes, Central banks, Correlated, Credit, Equities, Fundamentals, Geographies, Industries, Market, Outcomes, Sell-off, Severe, Soft landing, Worsened
The Guardian (July 9)
“The pound has come under fresh selling pressure amid rising fears over the strength of the British economy as no-deal Brexit looms,” tumbling to its lowest sustained level in over two years. “The latest sell-off comes at a time of a stalling UK economy, as the boost from stockpiling before the original Brexit deadline begins to fade” and fears grow that “the economy probably contracted in the three months to June, raising fears of a technical recession.”
Tags: Brexit, Economy, Fears, No-deal, Pound, Pressure, Recession, Sell-off, Stalling, Stockpiling, UK
