NEW YORK – After seeing the worst day of trading in all of 2019, the stock market recovered slightly Tuesday.
The Dow climbed 311 points Tuesday after dropping down more than 760 points Monday. The market reacted Monday to China allowing it’s currency to fall to the lowest level in more than a decade. The move sent U.S. stocks into a free fall Monday with the Dow hitting 25,717 points.
China’s aggression is a direct response to President Trump’s threat to impose new tariffs on $300 billion dollars of Chinese goods. Those tariffs would put a higher price tag on items like clothing, televisions and smartphones.
The president took to Twitter stating “… our great American Farmers know that China will not be able to hurt them.”
His top economic advisor says farmers will continue to get assistance from the White House during these difficult times.