Equity Dive

Everybody attributed yesterday's stock declines to $60 oil (dammit, AlexC, turn up the domestic production!) but Larry Kudlow sees it as a reaction to protectionism

Today’s triple-digit Dow decline was caused by an unusual Senatorial display of trade and currency protectionism aimed at China.

Any efforts to destabilize China are misguided and harmful in economic and national security terms. The freedom to trade has enormously benefited China, the U.S., and the rest of the world’s growth. China economic demands have promoted U.S. business across-the-board from industrials, metals, energy, tech, and elsewhere.

Economics and Markets Posted by jk at June 24, 2005 1:48 PM