Mike Lomas, The Financial Guys, on Dow Dropping 724 Points

WBEN Extras
Thursday, March 22nd

Mike Lomas discusses the Dow's 700+ point drop Thursday.

00:03:27

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

The Dow taking a big slide on this Thursday Michael almost all the financial guys joins us now on the WBE analog line. Mike how worried are investors over the tariffs against China president trump approved today. Welcome picture of me on comic clearly they're worried right at BUC without doubt 700 plus points. The either the certainly means that investors are especially institutional money. Because we've seen that tremendous volatility here in the last hour that at third service it's one of the concerns that we've had. You know with Donald Trump I agree with them on tax reform I agreed with them on immigration. But you know there's certainly no room for a trade war. The stock market right now as it's always been an animal that's gonna trade uncertainty and uncertainty. And there's a lot of uncertainty out there right now I think. Not only to trumpet mountains say hey we're looking at fifty to sixty billion dollars terra that aren't the punish China and I think that this is just the start. And so I think the real fears what the counterpunch from China and what are they gonna come back out without so I'm hoping you know this is. There's still work apparently got to take in the considerations opposing an imposing. Are they that he's proposing that there were looking at about a thirty day public comment period. Where I'm hoping trump and the administration's scenes that they look at the volatility of causing the stock market the stock market bubble like that maybe we take a step back. And Donald has always been one of the big to bring up victories all that the fight opened up this popped work but you know we need to work on. Our stop here we need the lower taxes more regulations. And that worry about slapping him in going back and forth the trait more picky just too premature right now. So you don't think it's the right decision. I don't think it's the right decision at all I think we've got a lot of our own problems. Fundamentally here in the US that we need to deal with including lowering our expenses. Continuing to make regulations right. And that worry about. The trade imbalance of and into the back of the green jobs that could mean a week. Simply slap at sixty billion dollar tariff on China electing they're gonna do is increase the price of the stock asylum to a so. I'm not a big fan of that at all I'm hoping that the market look at our arms around ignited the biggest part of the uncertainty right Alice. We don't exactly know what factors are gonna get hit by that's not trumpet talking about technology. But then and the other side does not present law but first of money so. Is it technology is at retail. You know what is that what exactly is gonna get it here and I think the market just scared about it Helio is the pick specific numbers that now. Has historically over the last book they read it six months. It's been finding a lot of support in this 24000. Range so. You know tomorrow will be a big via a big day hopefully we can bounce off of that and start to move. Which sectors were probably the most nervous my. I would think right now it's gonna be technology you know that that at least in the short term that's what the trumpet administration targeted for the error so I think. You know you're going to see. Probably more volatility in the tech sector than anywhere else. Our Mike thank you very much that's Michael almost the financial guys would double the analogue line. And as we check the WBE I'm thirty minute ticker at the close. The Dow down 723. Points at 2300959. The NASDAQ down a 179 at 7167. In the house would be down sixty and a quarter points at 2644.
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