These market whipsaws between fear and trembling and irrational exuberance won’t end until the U.S. and China come to some sort of agreement in the trade war.
Earlier in the day, Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer spoke with their Chinese counterparts Vice Premier Liu He and Commerce Minister Zhong Shan about the ongoing trade battle. The two Chinese officials issued a protest against the duties that were set to take effect in September. The two trade representatives have a called scheduled for another two weeks.