Stoever Glass & Co., Inc.
Phone: (212) 952-1910
P: (800) 223-3881
The Markets (as of market close August 10, 2018)
Despite the continued strength shown in corporate earnings reports, investors reeled in their enthusiasm
last week, sending the large caps of both the S&P 500 and the Dow plummeting. Ongoing tensions
between China, Russia, and now Turkey seem to have dampened investors' confidence. Following new
sanctions levied against Russia by the United States, Russian Prime Minister Medvedev threatened that
Russia will consider U.S. sanctions a declaration of economic war. Meanwhile, U.S. threats against Turkey
for refusing to release an American pastor added to Turkey's economic crisis as the lira fell 14% against the
dollar. And China has warned of a protracted trade war if the United States continues to add tariffs on
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