Dow futures briefly sink 400 points as Trump trade adviser declares China trade deal ‘over,’ then walks it back

U.S. stock-index futures Monday night briefly skidded by more than 400 points, after White House trade adviser Peter Navarro implied to Fox News in a late-Monday interview that a hard-fought trade agreement that was signed with China in January had been terminated by President Donald Trump.

How are benchmarks performing? Futures for the Dow Jones Industrial Average YM00, +0.08% YMU20, +0.08% were last up 43 points, or 0.2%, at 25,993, but had shed 440 points, touching a low at 25,514, according to FactSet data. Those for the S&P 500 index ES00, +0.11% ESU20, +0.11% were trading virtually unchanged at 3,115.50 but had traded at as low as 3,060. Nasdaq-100 futures NQ00, -0.06% NQU20, -0.06%, meanwhile, lost 5.75 points, or 0.1%, at 10,119, but had seen sharper losses as well.

What’s driving the market? Markets got a jolt of late-night volatility after Navarro, in a Monday evening interview on Fox News, said the China trade deal was over, citing unnamed intelligence officials that allegedly point to a Wuhan laboratory as the source of the novel strain of coronavirus that results in COVID-19.

iframe.twitter-tweet { width: 100% !important; } The Trump administration has long blamed China of mishandling the COVID-19 outbreak.

There isn't much good news to come now. The rally in May, early June was the last of it. As bad news starts to trickle and the assumptions priced in falter, expect regular sell offs or a huge sell off in coming days and weeks. It pays to have a short term view right now.

Nobody trades Dow futures . I mean NOBODY. But please mention NASDAQ futures at ALL TIME HIGHS!!!

POTUS PeterNavarro45

ETTD

WTF

Phew, that was close guys!

AbuSofiyyah5

No one with a functioning brain cell believes anything these people say. Only the Algorithms still listen. They need new programming

Jibberish from giblet heads.

firenavarro

Lmao they wanted him to wait for the Friday dump

Goodbye morality, professionalism, free market, it's all gone down the toilet.

The deal’s on, it’s off. It’s off, it’s on. The house of confusion, that’s trumps white house. Failed businessman, failed politician.

that's why you shouldn't choose businessman as president..

Poor guy, He knew something we don't know. To maintain the stock market, wall street force him swallow his xcrement.

Is this guy a total idiot or what?

What a bunch of nuts

Trump is a liar. How many times are you going to fall for it?

Update- from Trump himself- deal is on. This is a shit show that never stops. 🍊🍊🤡🤡💩💩

PeterNavarro45 and realDonaldTrump plus other imbeciles are destroying America.

Wake up the boss because of his comments

It is something happened. Of course, China will like to terminate unfair deal in current COVID-19 pandemic. It is likely no deal any more.

Wrong. That is not correct.

Trump’s reelection’s only hope is the trade deal. If it’s over then you’ll see a lot of this👇

He is an idiot

You can not make this shit up

Is this fucker going to cover my losses from this misinformation ?

The market was bound to tank anyway. China is willing to make it happen because they don't rely on pure capitalism.

I would rather watch 24 hrs tennis channel than this tradedeal drama. The whiplash is somewhat bearable. Longest carrotdangling in History $SPY $IWM $QQQ $VIX $UVXY

So much winning.

Update this

Someones getting fired!

So this comes out at 11:19pm on a Monday night. Yeah ok.....

What TF is it exactly old man? Deal or No Deal? Over or Not Over? make up your mind

He walked it back. Phase one still on. You're way behind CNBC.

Im confused..

ELISLEITAO Já está voltando ao normal. Foi um lindo mistake. rsrsrsrs

This is just the first in a volley of OMG revelations that will surface today as the Trump Administration plays ever card in the deck to try to divert attention from Bolton's book 🙄

Chinexit short term pain for long term gain

How are you guys this far behind? Navarro already clarified his statement. Taken wildly out of context he says. Trade deal is NOT over, trust is lost and trust of China is over. Who didnt already know that. D o7 w futures already back to - 45. Is this market that volitile?

Never mind

This comment would have been a lot more exciting during trading hours!

Imagine reporting incorrectly and tanking an entire market for 3 minutes

Aaaaand its over

LMAO

aiochida dandyproducer 😱

Don't worry, it's 'tongue-in-cheek.' PeterNavarro

Catch up guys.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trump says he held off on China sanctions because of trade deal: reportPresident Donald Trump said he did not sanction China for building mass-detention camps for Uighurs and other ethnic minorities because doing so would have... Sanctions my a$$. Lol- no he did because he wanted to extort China too. Just like everything he does. If there isn’t anything for him, he isn’t interested. Greedy, self serving pos. Exporting my Meat!
Source: MarketWatch - 🏆 3. / 97 Read more »

Trump says held off on Xinjiang sanctions over China trade deal: interviewPresident Donald Trump has said he held off on imposing sanctions on Chinese officials over the mass incarceration of Muslim minorities in Xinjiang to protect US-China trade negotiations, according to an interview published on Sunday. Activists say China has rounded up at least one million Uighurs and He's having about as much luck with that trade deal as he is with getting Mexico to pay for the wall. What a scrupulous leader.
Source: YahooNews - 🏆 380. / 59 Read more »

Dow futures drop more than 200 points as coronavirus cases continue to climbU.S. stock futures fell following a solid weekly performance on Wall Street amid lingering concerns about the coronavirus outbreak. Sensational!!! Should have fallen earlier, rigged market
Source: CNBC - 🏆 12. / 72 Read more »

Dow futures climb as investors weigh hope for V-shaped recovery against rise in coronavirus casesU.S. stock-market indexes climb, but imply a lackluster open, on Monday as investors weigh optimism over a quick recovery for the domestic economy, or V-shaped rebound, and evidence of an acceleration of COVID-19 infections in states and elsewhere in the world. Yeah? How are they factoring in ecological demise and potential collapse? Looks like Disneyland as there's zero mention of the reality looming. Dow climbs as the rich hope there are enough waves of poor to die serving them during a growing pandemic... winning EatTheRich GeneralStrike
Source: MarketWatch - 🏆 3. / 97 Read more »

Dow finishes above 26,000 as stocks rally on recovery hopesU.S. stocks booked modest gains on Monday as investors largely overlooked the rising tally of coronavirus cases across the U.S., amid hopes that efforts to reopen the economy would continue to make progress. pushing up stock market USA no volume (like in a vegetable store) to again at better prices = keep feeding the ducks “Investors” didn’t do anything. It’s JPOW.
Source: MarketWatch - 🏆 3. / 97 Read more »