(Reuters) – U.S. stock futures opened later Sunday, indicating a two-day sell-off that lasted for two days following the Trump administration’s announcement last week.
Comment:
Robert Pavlik
“The future is down 4%. I can't see the change that happens overnight. One problem is that people are looking for some kind of comment from someone in the government over the weekend, which shows you might be negotiating or changing tariffs. But they seem to be digging on the heels, so we're down 4% more.”
“Some people might be because of phone calls or trying to lead the phone, or pre-locate or sell to news because they think something will happen tomorrow morning. Friday is such a drop day, and you'd imagine someone getting margin somewhere.”
“People are very nervous about the uncertainty this brings, and the Fed says it will wait and stay on hold until the potential drop in facts of clearer clarity. If the Fed doesn't carry out a rescue, who else will come to rescue?”
“People are worried that the worst is not coming yet. They are worried about the market crash. They are worried about the next thing, a recession domestically and globally, leading to possible depression.”
Angelo Kourkafas, Senior Investment Strategist, Edward Jones, St. Louis:
“Fear is the fear that continues to drive market action since the tariff announcement on April 2. I think many investors are worried about the worst case scenario of extending the trade war.”
“That sentiment will remain vulnerable until we get an external ramp and show that we have the potential to cut trades with key signs of lowering tariffs.”
David Seif, chief economist of developed markets in Nomura, New York:
“In selling like this in a market, panic and forced sales through margin calls may dominate. It's not that this is not based on very negative events, which are these tariffs. But I think the subsequent sell-off can give my own life. It won't shock me, but if I'm not behind anymore, then I won't find out if I'll find out if I'll find out if I'll find out if I'll run into a steady pace soon if I'll get it. Don't think the stock will return to its top 2 levels soon.”
Michael Brown, senior research strategist at London Pepper:
