Vanilla XJO Thread, page-69

Two hours before U.S. markets closed on Friday, President Trump announced 25% tariffs on goods from Canada and Mexico and 10% tariffs on goods from China. Markets around the world sank, American indices, which had been in positive territory, dropped quickly into negative territory. (Australian Overnight Futures finished down >1%.)

Dow Jones -0.75%. SP500 -0.5%. Nasdaq -0.26%. Small Caps -0.83%. Banks -0.63%.

Dow Jones

SP500 had reached into the Supply Zone set up back in late November to early December.

Friday's action turned the Hull MA9 to the downside for the first time since 14 January.

Indicators gave plenty of advance warning that all was not right with the market.

The pull-back on Friday seems to be more serious than the one that occurred Wednesday when the Chinese AI Deepseek put fear into the market. Friday's action looks more like the start of a serious pull-back.

Commodities.

Commodities Index -0.18%. Energy +0.31%. Base Metals -0.9%. Agriculture -0.4%. Gold +0.2%.

BHP in the U.S. was down -1.21% on Friday. Rio -0.82%. Woodside -2.06%.

ASX Overnight Futures -1.19%.

Take care.

P.S. China, in response to Trump's tariffs, has imposed a 75% tariff on U.S. goods. The following YouTube Video discusses 7 consequences of the trade war: https://www.youtube.com/watch?v=WGNq0vNe3tg