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SanJoséCA

By Masao Suzuki

San José, CA – The weeklong fall in stock prices gathered speed on Thursday, February 27, as the Dow Jones Industrial Average fell almost 1200 points or 4.4%. The broader S&P 500 and the tech-heavy NASDAQ stock indices also fell by 4.4%. The total decline in stock prices has now topped 10%, putting the markets into a so-called ‘correction.’ For the S&P 500, the time from hitting a record high on February 19 to entering a correction on February 28 was the fastest on record, taking only six trading days.

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By Masao Suzuki

Trump tweets while novel Coronavirus infections surge outside China

San José, CA – For a second day in a row, U.S. stock prices fell about 3% Tuesday, February 25. After a 1000-point drop on Monday, the Dow Jones Industrial Average fell almost 900 points, or more than 3%, while the broader S&P 500 fell 3%. Investors fled to buy bonds, pushing their prices up and their interest rate down to all-time record lows, with the ten-year U.S. government bond interest rate falling to 1.35%. Typically falling interest rates show fear of slower economic growth or even a recession ahead.

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By Masao Suzuki

Dow Jones Industrial Average falls More than 1000 points

San José, CA – U.S. stocks got a reality check on Monday, February 24, with the Dow falling more than 1000 points, or 3.5%. The NASDAQ index, with a heavy representation of technology company stocks, fell a bit more, while the broadest measure of the stock market, the S&P 500 fell a bit less.

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By Masao Suzuki

San Jose Day of Remembrance.

San José, CA – On February 16, the San Jose Day of Remembrance held its 40th annual event with the second-highest attendance ever – more than 550 people. The event started in 1981 as part of the nationwide movement of Japanese Americans demanded redress (an official apology) and reparations (monetary compensation) for their incarceration during World War II.

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By Masao Suzuki

_ U.S. stocks end with a total loss for the month of January_

San Jose, CA – U.S. and European stocks fell again on Friday, January 31. With the Dow Jones Industrial Average (DJIA) down more than 600 points, or 2%, U.S. stock markets ended up with a small loss for the whole of January. While losses in European stock markets were not as bad on Friday, they were over 3% for the month. Japanese stocks were also down in January, marking a worldwide stock market decline for the first month of the year.

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By Masao Suzuki

U.S. Dow Jones Industrial Average gains for the year wiped out

San José, CA – Stock markets around the world fell on Monday, January 27, with U.S. stocks down about 1.5%, the biggest fall since October of last year. The headline Dow Jones Industrial Average (DJIA) fell more than 450 points, wiping out all the gains made earlier in the year. Many overseas markets saw even deeper declines, with European stock off 2.5%.

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By Masao Suzuki

San José, CA – The U.S. stock market started October with back-to-back declines fueled by growing fears of a recession. On Tuesday, October 1, stocks fell by 1% or more following the Institute for Supply Management (ISM) reporting on their Purchasing Managers Index (PMI) for September. The index fell to 47.8, showing a contraction in the manufacturing sector – any report below 50 shows manufacturing shrinking, above 50 shows growth. The August PMI report at 49.1 also showed a drop in manufacturing, the first time in three years. The September reading showed that the decline was accelerating and was the lowest level for the PMI since the end of the last recession, more than 10 years ago.

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By Masao Suzuki

San José, CA – On Friday, August 23, the U.S. stock market opened lower, on the news that China was retaliating to Trump's latest round of tariffs. It then recovered after Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole economic conference. Then Trump tweeted that he was “ordering” U.S. companies to leave China, and stocks dived, with the Dow Jones Industrial Average ending with a loss of more than 600 points or almost 2.5% lower. The broader S&P 500 average fell a bit more than 2.5% percent and the NASDAQ composite, which is heavily weighted towards technology companies, fell 3%.

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By Masao Suzuki

Recession fears make Trump backtrack in trade war with China

San José, CA – On Wednesday, August 14, the U.S. stock market tanked, with the Dow Jones Industrial Average down 800 points, or 3%. The technology-heavy NASDAQ index also fell 3% and the S&P 500 fell just shy of 3%. This is the third day in a row of major market moves: Down more than 450 points on Monday, up 375 points on Tuesday, and now down again.

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By Masao Suzuki

San José, CA – U.S. stocks fell again on Monday, August 12 as growing recession worries were added to ongoing concern about the direction of Trump’s trade war with China. The Dow Jones Industrial Average fell almost 400 points, or 1.5%, while the broader markets fell by smaller percentages of about 1.2%.

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By Masao Suzuki

U.S markets have the worst day this year

San José, CA – On Monday, August 5, China replied to Trump’s new tariff threat by calling off the purchases of U.S. agricultural products and weakening government support for the RMB, China’s currency. In response the RMB fell to 14 U.S. cents, meaning it will take slightly more than 7 RMB to buy one U.S. dollar. Soybean prices also fell, as China is the largest foreign buyer of U.S. soybeans.

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By Masao Suzuki

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San José, CA – On Thursday, July 31, President Trump tweeted that he would be imposing new tariffs, or taxes, on the $300 billion of Chinese goods not covered by his 25% tariffs. U.S. stocks took an immediate dive, giving up all of their 300-point gain to drop 280 points for the day. They continued to fall on Friday, leading to the worst week for U.S. stocks all year.

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By Masao Suzuki

San José, CA – More cracks showed up in the U.S. economic expansion as the May employment report saw a gain of only 75,000 net new jobs, less than half what most economists expected. In addition, the Labor Department revised the job creation numbers down by 75,000 for March and April. Over the last four months the economy has added new jobs at a rate of 130,000 per month, much less than the 223,000 new jobs added each month on average in 2018.

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By Masao Suzuki

San José, CA – On Tuesday, May 7, the Dow Jones Industrial Average (DJIA) fell almost 500 points, or close to 2%. This came following President Trump’s tweets on Sunday threatening to escalate the trade war with China on Friday if he couldn’t get a trade agreement done. While the U.S. stock market largely shrugged off this news on Monday, statements by his economic advisors convinced investors that his threats are for real.

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By Masao Suzuki

San José, CA – On Friday, April 26, the Bureau of Economic Analysis (BEA) issued its first report on economic growth in 2019. The country’s Gross Domestic Product, or GDP, which measures the total production of goods and services, grew at a 3.2% annual rate during the first three months of the year (January to March). This was stronger than most economists expected.

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By Masao Suzuki

San José, CA – On April 21, the Trustees of Social Security and Medicare released their annual report. The report includes a projection that the Social Security benefits will be greater than income next year for the first time since 1982. The Social Security trust fund, which has grown to almost $3 trillion, will start to be tapped for the first time.

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By Masao Suzuki

San Jose, CA – Friday, March 22 was a day of good news, bad news, and ugly news.

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By staff

Suzuki speaks at the San Jose Day of Remembrance.

San José, CA – On Sunday, February 17, more than 400 people filled the San Jose Buddhist Church gym for the 39th annual Day of Remembrance event. Across the country, Japanese American communities commemorate the anniversary of Executive Order 9066, which led to the incarceration of more than 100,000 Americans of Japanese descent during World War II. The San Jose event was organized by NOC, the Nihonmachi [Japantown] Organizing Committee.

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By Masao Suzuki

Bust follows boom under capitalism

San José, CA – The New Year is starting off much the way 2018 ended: with U.S. stocks being hammered again. On Thursday, January 3, the Dow Jones Industrial Average (DJIA) fell more than 600 points, the technology heavy NASDAQ fell more than 200, and the broad S&P 500 fell more than 60 points. All the averages fell more than 2% to put the year into the red.

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By Masao Suzuki

Trump administration makes bad situation worse

San José, CA – On Monday, December 24, all three major stock market indices smashed the old records for declines on Christmas Eve. The Dow Jones Industrial Average (DJIA) fell more than 650 points or 2.9%, more than twice the 100 year record set back in 1918 when it fell 1.1%. The broader S&P 500 fell 2.7%, to close more than 19% from its record high, and less than 1% away from the 20% drop that would put it in bear market territory and ending an almost ten-year bull market in stocks.

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