And suit of armor.
From Investor's Business Daily:
4:17 PM ET
Stocks today closed with heavy losses Friday, as the U.S.-China trade war intensified and investors rushed into safe havens. The sell-off quashed a market rebound this week....MORE
The Nasdaq composite tumbled 3% for the week, dashing hopes that the composite would climb back above its 50-day moving average. Instead, the 50-day line has once again proved to be a level of resistance.
The S&P 500 shed 2.6% and the Dow Jones Industrial Average 2.4%. The Dow closed barely above its 200-day moving average. Indexes closed near session lows.
All three indexes made it four down weeks in a row, and the market is on pace for its worst month since May. Volume Friday was sharply higher from Thursday's totals.
The small-cap Russell 2000 lost 3% as well. Invesco QQQ Trust (QQQ), which was nearer to marking a close above the 50-day line, plunged 3.2%.
Trade headlines overshadowed Fed Chairman Jerome Powell's speech in Jackson Hole, Wyo., Friday.
Wall Street opened lower after China reimposed a 25% tariff on imports of American-built autos and announced tariffs of 5% to 10% on additional $75 billion in U.S.-made goods.
U.S. indexes pared early losses after reading Powell's comments. Powell sees rising risks for the global economy and said the Federal Reserve will be ready to respond to signs of weakness. But the market sold off sharply after President Donald Trump posted a series of tweets that criticized both Powell and China. Trump urged U.S. businesses not to do business with that country.
These Sectors Fall The Most Amid China Trade War...
If you should happen to get caught without your armor, say you are minding your own business, watching cat videos in the office and a market panic appears at the door here is one recommended course of action, last seen October 18, 2018 (you remember Oct. 3 - Dec. 24, 2018, right?):
The Week Ahead--"How to Gird Up Your Loins: An Illustrated Guide"
Although we don't plan a Dress & Grooming column, this may come in handy should the markets descend into madness.
From The Art of Manliness:
If you’ve read the Bible, then you’ve probably come across the phrase “gird up your loins.” I’ve always thought it was a funny turn of phrase. Loins….heh.
Back in the days of the ancient Near East, both men and women wore flowing tunics. Around the tunic, they’d wear a belt or girdle. While tunics were comfortable and breezy, the hem of the tunic would often get in the way when a man was fighting or performing hard labor. So when ancient Hebrew men had to battle the Philistines, the men would lift the hem of their tunic up and tuck it into their girdle or tie it in a knot to keep it off the ground. The effect basically created a pair of shorts that provided more freedom of movement....MORE
Also at the Art of Manliness:
How to Recover From a Bad First Impression
