The markets continued melting down mainly on China news about the Covid lockdowns and unrests that may impact companies like Apple negatively. But I think there is still a year-end rally ready, and I expect a 5% rally in December. Eventually, China will have to reopen and stimulate the fading economy. Many investors make mistakes in treating China the same way as any democratic western country, but China doesn’t operate in such a way. Western investors put too much political influence and can’t separate it when investing and trading (when Trump was in power, Democrats wanted mess and chaos in the economy, now when Biden is in power, Republicans want a mess and chaos in the economy, I am guilty with this too, but with China, it doesn’t work that way). And in all this, the Chinese companies hold relatively well. That tells me this selling pressure will fade away.
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