Stocks Sink As Humans Realize Trump's China Comments Meant Nothing

Update: As all humans watching the president's statement realized, there was nothing new at all and The White House has just confirmed that: "After Trump's comments on China & trade, White House officials told CNBC that people should not read too much into those claims, because there is no sign of a deal coming soon."

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The algos have their sensitivity cranked up to '11' today...

President Trump said the following...

  • *TRUMP: CHINA WOULD LIKE TO MAKE A DEAL

  • *TRUMP: CHINA SENT LIST OF THINGS WILLING TO DO ON TRADE

  • *TRUMP: THINK WE WILL HAVE GREAT RELATIONSHIP WITH CHINA

  • *TRUMP SAYS MAY NOT HAVE TO DO MORE CHINESE TARIFFS

  • *TRUMP: DON'T WANT TO PUT CHINA IN BAD POSITION

  • *TRUMP: CHINA LIST PRETTY COMPLETE, FOUR OR FIVE THINGS LEFT OFF

And the machines panic bid stocks...

Notably, the FX markets entirely ignored this and bond yields nudged very modestly higher...

It appears Trump has discovered the OPEC jawbone strategy: repeat the exact same thing every day, betting idiot algos will buy.