Big rally bubbling up. Check out what happened to chinese tech stocks today as Congress Seems to be turning up the heat on china. Lets get to Kayla Tausche for the details. Melissa, the Holding Foreign Companies Accountable act technically applies to any nonu. S. Company listed here and it requires those companies to be subjected by the securities and Exchange Commission and if not to certify that it is not owned and controlled by a Foreign Government any company that cannot prove that would be dislisted. Here is john kennedy, the republican senator from louisiana who sponsored this bill i do not want to get into a new cold war all i want, and i think all the rest of us want is for china to mri by t play by the rules. Antichina sentiment has been gaining steam in recent years and it did not subside after the phase one trade deal was reached in january and this particular issue of transparency has gained new momentum after the fraudulent Financial Disclosures at Luckin Coffee just last
Was it the fed with so many voices calling for rate hikes . Was it the consumer or the earnings for some companies or the fact that oil seems to be unable to break . Every day we try to figure out what is ailing this market. This week i looked up the fabled july 15, 1979 crisis of confidence speech to see what jimmy carter said during a period where america was suffering from a collective malaise. And i quote, for the first time in our history in the history of our country, a majority of our people believe that the next five years will be worse than the past five years, carter told the nation. Again, quote, it is a crisis that strikes at the very heart and soul and spirit of our national will, end quote. Of course at the time we were suffering from gas lines caused by an opec embargo, and from wild inflation caused in part by a weaker dollar that eroded our savings. Now the price of oil is on tenter hooks after being cut in half and its the dollars strength thats hurting earnings. Ther