Stocks, Yuan Tumble On US-China Trade Headlines

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.