Five feet high and rising – Stock market bulls false sense of security

By Richard Mills

US stock markets on Tuesday were like a teenager forced back to school after a summer of fast cars and girls – insolent and bad-tempered. Snapping a three-day winning streak, the Dow and the S&P 500 both fell after US and Chinese tariffs took effect over the long weekend. The sell-off was also influenced by weak US manufacturing data, and more worries over the UK crashing out of the European Union, after the governing Conservative Party lost its majority in the House of Commons due to a Tory member crossing the floor to the Liberal Democrats.”…

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