Value Lost in Monday's S&P 500 Rout Exceeds Annual China Imports
Shipping containers sit stacked at the Yangshan Deepwater Port, operated by Shanghai International Port Group Co. (SIPG), in this aerial photograph taken in Shanghai, China, on Friday, May 10, 2019.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Here’s another perspective on how much the trade standoff is sinking the market: The dollar value S&P 500 stocks lost in a single day as the sell-off accelerated was more than the U.S. imports from China in an entire year.
The U.S. buys everything from from electronic equipment to machinery to furniture and footwear from Beijing, with imports totaling $539 billion in 2018. The S&P 500’s 2.4% slide on Monday wiped out $600 billion of market value.