Elon Musk's Crypto Wars

On May 6, 2019, a tweet was forever nailed to the pillar of shame of the Chinese stock market. Then-US President Trump tweeted that "the 10% tariff on $200 billion worth of Chinese imports over the past 10 months will be raised to 25% on Friday." The next day, both Shanghai and Shenzhen stock markets opened lower, with the Shanghai Composite Index losing the 3000-point mark. At the close, the Shanghai Composite Index fell 5.58%, the Shenzhen Component Index fell 7.56%, and nearly 900 stocks hit their daily limit down across both markets.