mo4ch:>US oil market suffering as the trade war escalates | Mo4ch News

The ongoing trade war with China is impacting many industries. Market volatility is being exacerbated by President Trump’s pattern of vacillating between threats and cease-fires on the topic.At the beginning of August, the markets were sent into a tailspin by President Trump’s threat to impose tariffs on another $300 billion of Chinese imports. The markets were broadly impacted, but the energy sector was hit especially hard. Crude oil prices suffered their largest drop in over four years.President Trump subsequently backed off, citing concerns about retail spending headed into the holiday season. As if to further emphasize the risk, the yield on the 10-year US Treasury bond recently fell below the yield on the 2-year US Treasury. This yield curve inversion happens when investors are flocking to safety and it’s historically a strong recession indicator.What could possibly cause a recession? Most economists think the economy is still pretty healthy, but trade wars cost consumers money. …