The Nasdaq 100 is trading lower today for a number of reasons. We all thought that the business between the US and China as far as tariffs were concerned had ended with 2019. We may have been wrong, as US President Donald Trump has issued new tariff threats to China over the coronavirus pandemic. President Trump has been very vocal in his rebuke if China over its handling of the outbreak of the coronavirus. US Secretary of State Mike Pompeo took the threats to another level when he suggested on an ABC News Sunday morning program that the coronavirus was an artificial creation.
With markets now responding more to situations and comments that have to do with the economics of the pandemic, the adversarial tone of both the US President and his foreign secretary have sparked off a new twist to a continuously evolving situation and has spooked the markets.
The Nasdaq 100 is presently trading -0.69% lower at 8707.5.