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U.S. Treasury's Mnuchin says he has learned his lesson on dollar comments

U.S. Treasury Secretary Steven Mnuchin said on Saturday he had learnt the hard way to be guarded in his comments on the dollar after roiling financial markets in 2018 by breaking from the usual language about the currency. Two years ago at the World Economic Forum in Davos, Mnuchin sent the U.S. currency reeling when he said he welcomed a weak dollar. “One of the things I’ve clearly learned as treasury secretary, I’m very careful about my comments on the dollar, because two years ago in Davos, I sneezed, and I said something that I thought was …read more […]

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U.S. Plans to Evacuate Some Americans From Wuhan: Virus Update

(Bloomberg) — The novel coronavirus spread to more countries in the Asia Pacific region as China reported a surge in deaths and new cases due to the outbreak.The virus has killed at least 41 people in China, with media reports citing chaotic scenes as hospitals in the city of Wuhan turned away people who were unwell. The U.S. plans to close its consulate in the city temporarily and evacuate some Americans from the area, Dow Jones reported.Australia and Malaysia confirmed infections on Saturday, while the virus also spread to South Asia as Pakistan and Nepal reported cases. U.S. health authorities …read more […]

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Stop Loss Order Explained with Examples

A common fear people have about investing is that it’s gambling. They think they would lose on average. But that’s not the case and investors who lose often have a common trait—they don’t know when to leave the game. Having an exit strategy is important, and a stop loss order can be a crucial part of that strategy. Designed to minimize losses and possibly lock in gains, stop loss orders can be an investor’s best friend.
What is a Stop Loss Order?
A stop loss order is a command to sell a security at a certain price. The goal is to limit …read more […]

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Trump Expands Aluminum, Steel Tariffs to Some Imported Products

(Bloomberg) — The Trump administration expanded its trademark steel and aluminum tariffs to cover certain imported nails, staples, electrical wires and some downstream parts that go into automobiles and tractors, among other products.The decision comes almost two years after the administration implemented tariffs on imports of foreign raw steel and aluminum that President Donald Trump said threatened the viability of the domestic industries and therefore threatened U.S. national security.Some imports of derivative aluminum products would be subject to an additional 10% duty, while some derivative steel products would be slapped with a 25% tariff, he said.Argentina, Australia, Canada and Mexico …read more […]