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Maybe Trade Wars Are Bad and Easy to Lose
An old Wall Street saw says “Buy on the sound of cannons, sell on the sound of trumpets,” meaning stock traders see wars as buying opportunities. The story may be different if those cannons are aimed at their wallets, however.
Until recently, President Donald Trump’s waving of the trade-war stick at China and various allies has generally elicited stock-market yawns. But Trump's new tariffs on Chinese goods today may have been a hot pot of coffee. China fired back with massive tariffs of its own, and Trump has threatened to retaliate
