Stocks Slump On Reports That US/China "Struggling" To Finalise Phase One Deal

Echoing the same reports from yesterday that sparked a brief panic, The FT reports that Trump administration officials concede original target date may slip but deny reports of setback.

According to people close to the talks, Trump administration officials are frustrated that China has not offered enough concessions to justify a reduction in US tariffs on Chinese goods — a longstanding demand from Beijing that has become further entrenched in recent weeks.

One person with knowledge of the discussions said that China was “absolutely” delaying the truce with its approach, jeopardising the chances that a final agreement could be reached in the coming days, the original target set by both sides.

“There’s a lot of jockeying going on — it’s a stand-off, in part,” said another person briefed on the talks.

And stocks tumbled...

Will they BTFD again? The answer is - very quickly - YES!!

The market's view on success has faded...

Source: Bloomberg

Bonds ain't buying it...

Source: Bloomberg

We're gonna need a Trump/Kudlow statement to save the day stat!