Nov 14 (Lagos) - Stocks continued to sell off in the US markets after the government shutdown ended as investors seem tired of the flip-flop policies of the Trump administration. The latest news is that they are looking to cut tariffs on food items to help lower food inflation. This is after the people rejected the republican party at various local and state level polls in the past few weeks.
The loss of credibility of the US on the world stage is beginning to become obvious to most people and China emerges as the new global power. It's ban on sale of AI chips to Chinese companies seems to have backfired as Chinese companies have managed to produce their own AI chips which could be as good as those produced by US Companies.
While the market analysts are blaming the fall on expectations of no rate cut in December but these analysts will print anything they are told to print. There have already been two rate cuts and it has failed to drive growth in the US economy.
The one sector where the US still has supremacy is the software particularly AI software from Companies like Palantir technologies & Anduril but how long that will last is anyone's guess. They way they are selling these shares it seems it might be close to its end. If they are willing to sell the best in the world, then the western world has major problems.