Billionaire markets guru Ken Fisher, Chairman of Fisher Investments, reacts to Thursday's 724 point plunge in the Dow Jones Industrial average

The stock selloff was sparked by worried over a trade war with China. 

President Trump announced some $60 billion worth of fresh tariffs on China Thursday. This comes on top of the steel and aluminum tariffs announced earlier this month. 

"The day was like a perfect storm, sometimes you get a tornado, sometimes you get a snow storm, sometimes you get both," he said.

 

|Watch Cramer & Fisher talk Fake News and the Markets on Youtube|

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