Gold Price Live Chart
Today the Dow Industrial Average (DOW) Dropped to a low of 2,822.12 points from a record year high of 3,027.98 in June, 2019. This occurred as a result of the currency decline of China which took place in defense of Trump’s trade tariffs.
Investors dumped U.S. stocks in late afternoon trading Monday, interpreting a sharp decline in China’s currency as an escalation in the trade war between that country and Washington.
China allowed the yuan to drop to seven per U.S. dollar, an 11-year low and a politically sensitive level. A weaker Chinese currency can help boost that country’s exports by making them cheaper while hurting foreign competition.