If it’s not one thing, it’s another. And today’s “shock” to the stock market comes from reports that House Speaker Nancy Pelosi appears set to visit Taiwan Tuesday, despite China’s protests.
Pelosi is making a trip to Asia, and will visit South Korea, Japan, Malaysia, and Singapore. The trip begins in Singapore today. Taiwan, though, has been the big focal point. China considers it part of its own territory and takes a dim view of anything that makes it seem like an independent nation. The latest official statements from China have warned the U.S. not to”play with fire,” but the rhetoric from less-official commenters has been much stronger.
The visit by Pelosi hasn’t been confirmed, but it is expected, according to reports. The market hasn’t taken the news well. S&P 500 futures have fallen 0.6%, while Dow Jones Industrial Average futures have declined 0.6%, and Nasdaq Composite futures have dropped 0.5%. The market was roughly unchanged earlier this morning.
Write to Ben Levisohn at email@example.com