Stocks Stumble As Admin Comments On Renewed Huawei Crackdown

US equity markets have taken another leg lower this morning, erasing all of yesterday’s gains, after US officials confirm that the Trump admin is unlikely to extend temporary waivers to supply Huawei.

Clearly, following Trump’s UN speech, the relationship with China is not getting closer to a deal – no matter how many times Trump drops an algo-trigering headline on a deal being close…

Yuan also dropped on the news…

Source: Bloomberg