It looks like another SEMI-CONDUCTOR war have started again between US and China.
China have banned ‘MICRON’ chips and US is going to make another black list of Chinese IT companies. China have confirmed that G6 or anyone in the world, could say any NASTY things anymore…
That’s why they’ve banned MICRON and they will do more restrictions like this from now on.
So, what can G6 or USA do about China from now on?
US stock market was falling down today with debt ceiling issue and Chinese ban.
DJ Index was downed by 0.7%, S&P 500 Index was downed by 1.1% and NASDAQ index was downed by 1.3%.
US politicians did make mistake once again, not agreeing on debt ceiling issue yesterday. Global equity market itself lost the trust on US markets.
We know politicians are generally terrible people and USA’s could be one of the worst. Because of these two issues, US debt ceiling and Chinese ban, pulled the markets to the downside.
It’s not good.
Apple was downed by 1.5%, MS was downed by 1.8%, Tesla was downed by 1.6% and Amazon was downed 0.02%.
US dollar Index was up again. Index was up another 0.3%, ending at 103.65 points today.
Why US dollar is getting stronger?
This question becomes more mystery or not easy to accept…but it’s happening. Two factors are affecting US dollar market in big way.
The first one is US government’s strong support on their own currency, protecting their bonds.
The second factor would be the possible support from China, who owned huge US debts.
Gold price was up today amid dollar’s surge, up 0.3% and ended at $1,974.59 per Oz.