1) China’s currency has loss 10% of its value against the US dollar, a result of China’s economic problems.
2) American soy bean farmers are facing sever losses as a result of the trade war with China.
3) The stock of Ford Motor Co. has dropped below $9 per share, the first time this has happened in more than six years. This down turn is a result of Ford’s piecemeal cost cutting program as part of it restructuring. Additionally, Ford’s 70,000 employees are facing some unknown amount of layoffs.
4) 9 OCT 18 Stock market closings:
Dow 26,430.57 down 56.21
Nasdaq 7,738.02 up 2.07
S&P 500 2,880.34 down 4.09
10 Year Yield: down at 3.21%
Oil: $74.69 up from $74.20