In the new normal world where The Dow spike 1000 points on no volume following headlines about the worst trade war since the great depression, it should not be surprising that the first reaction following escalating headlines from China is a vertical panic-buying attempt by the machines...
The post-payrolls disappointment dip was followed by a panic-bid as China's commerce ministry threatens immediate and very detailed retaliation to Trump's $100 billion tariff proposal and said that "under these conditions, the two sides cannot conduct any negotiations."
China will “retaliate immediately, intensively, without any hesitation” if the U.S. releases new list of tariffs on $100b additional imports, Chinese Ministry of Commerce spokesman Gao Feng says, adding:
“We Chinese won’t pick fights, but if someone picks a fight, we’ll resolutely meet them head-on. We Chinese always take things seriously; we’ll act as we say."
Now if that does not sound like a buying opportunity, we don't know what is.