Stoever Glass & Co., Inc.
Phone: (212) 952-1910
P: (800) 223-3881
The Markets (as of market close September 7, 2018)
Apparently a strong labor report, which included increasing wages, wasn't enough to quell investors' fears
as stocks plummeted last week. President Trump's threat to raise tariffs on an additional $267 billion in
Chinese imports heightened trade war rhetoric and frightened investors. Each of the benchmark indexes
listed here felt the heat, particularly the tech-heavy Nasdaq, which sank over 2.50%. The small caps and
energy stocks of the Russell 2000 were also hit hard, as was the Global Dow. The S&P 500 dropped over
1.0%. Only the Dow managed to weather the storm, falling a comparatively slight 0.19%. The favorable
employment report may be seen as a sign of rising interest rates as demand for long-term bonds increased,
sending prices lower and yields up (bond prices move in the opposite direction from bond yields).