Day Traders Diary

5/7/19

The major averages fell over 1.5% on growing concerns of a U.S./China trade war as the U.S. will increase levies on Chinese imports come this Friday. Investors were hoping President Donald Trump's weekend tweet threat was just a negotiation tactic. The Dow Jones Industrial Average finished down 473 points after plunging as much as 648 points. Within the Dow, bellwethers Caterpillar and Boeing fell 2.26% and 3.87% respectively. However, the selloff was broad based with all 11 S&P sectors trading lower.