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Stocks, Yuan Tumble On US-China Trade Headlines

Courtesy of ZeroHedge View original post here.

After President Trump spent several weeks creating an economic narrative of an imminent trade deal will be signed with China on November 17 at the Asia-Pacific Economic Cooperation (Apec) summit in Santiago, Chile, all to pump the stock market to record highs, there are new headlines from a US Administration official that specify a trade deal might not be signed in the coming weeks. 

  • EXCLUSIVE-US-CHINA 'PHASE ONE' TRADE AGREEMENT MAY NOT BE SIGNED AT CHILE APEC MEETING IN NOVEMBER, BUT PROGRESS IS BEING MADE -U.S. ADMINISTRATION OFFICIAL
  • IF A DEAL IS NOT SIGNED IN CHILE, THAT DOES NOT MEAN US-CHINA TALKS HAVE FALLEN APART, JUST THAT MORE TIME IS NEEDED -U.S. ADMINISTRATION OFFICIAL IF A DEAL IS NOT SIGNED IN CHILE, THAT DOES NOT MEAN US-CHINA TALKS HAVE FALLEN APART, JUST THAT MORE TIME IS NEEDED -U.S. ADMINISTRATION OFFICIAL 

Initial reports of a trade deal possibly falling apart before the Apec meeting slammed E-Mini Dow Futures lower.

Offshore Yuan strengthened to 7.064 level. 


 


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