Stocks Slump After Navarro, Trump Trade Comments
Markets had maintained some gains from the denial of China delisting headlines that sparked selling on Friday. But following Trump advisor Navarro's comments on CNBC, notably hawkish on China and not directly denying the China investment flows discussion, algops began to get spooked.
Then President Trump retweeted the following quote:
“After many years, the United States is finally waking up to Beijing’s plans and ambitions to pass us as the dominant economic & military superpower in the 21st Century. What’s happening now is that the U.S. is finally responding (thank you President Trump). This is taking..... ....place in TRADE, it’s taking shape in Military Competition.” Johnathan Ward, author and China expert.
Adding that:
"We are winning, and we will win. They should not have broken the deal we had with them. Happy Birthday China!"
And stocks did not receive that well...
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