The S&P 500 slid 1.5 percent between Friday, January 8, and Friday, January 15. It was the index’s sharpest decline since the week ended October 30. The Nasdaq-100 slid 2.3 percent, while the Russell 2000 rallied 1.5 percent. That divergence between big and small has been typical lately as money shifts to value stocks and newer companies.
Months of tit-for-tat tariff threats concluded on July 6th with China applying 25% tax on 545 US imports while the US levied 25% on 818 Chinese products. Both countries lodged cases with WTO (World Trade Organisation) and continued to bicker over tariffs. On September 24th, China began its second round of $60 billion anti-US tariffs, upping the overall figure to $110 billion. The US began collecting on its $200 Billion anti-China tariffs, raising overall import taxes to $250 billion at 10%, with a promise to hike it to 25% in the New Year.