ALERT: China Forces DOW to Drop 767 Points
China takes its first strike against the US economy by devaluing its own currency. They hope Trump’s tariffs won’t hit their country as hard if their currency drops in value. The market reacted with the sharpest drop since late 2016:
Breaking News: Stocks plunged nearly 3% as China sharply escalated the trade war with moves to weaponize its currency and limit U.S. agricultural products https://t.co/QMDBzY5Q6L
— The New York Times (@nytimes) August 5, 2019
Wall Street’s new fear is of a potential currency war between the US and China. Investors are unsure if Trump will continue to hike tariffs on China or if he will begin devaluing the US dollar. Let’s hope that China sees reason and restores everyone’s economy to normal.
“MAGA Bomber” Sentenced to 20 Years in Prison
Cesar Sayoc, also known as the MAGA Bomber, was sentenced to 20 years in prison for his crimes. He mailed 16 pipe bombs to top Democrats (including Biden, Obama and Clinton) mere days before the last midterm elections. Sayoc plead guilty and apologized for his actions.
— The Daily Dot (@dailydot) August 5, 2019
Hong Kong Protests Continue for 9th Weekend Straight
Hong Kong citizens continue to protest against China’s authoritarian regime. This demonstration has continued for just over two months now in response to China’s proposed extradition bill. China created a military propaganda video as a threat against protestors, but they’re not buying into the false narratives purported by the Chinese government.
Protests in Hong Kong remain peaceful, though disruptive. The city’s crowd is easy to organize and could turn into a mass demonstration in a matter of minutes. This writer reveals tactics used by the protestors that seem to be winning them the long game:
— Antony Dapiran (@antd) August 2, 2019
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