Stocks Plumb Session Lows After Chinese Media Says “Zero Chance” Of Trade Deal

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Not long after the Chinese delegation landed in Washington for the latest round of talks, one of Beijing’s favorite English-language mouthpieces appears to have confirmed that the odds of striking a trade deal before Friday are “zero” – sending stock futures to their lows of the session.

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Before the delegation left the airport, Hu tweeted a challenge to the US: Think long and hard about what you want to accomplish this week.

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Though this doesn’t mean a deal won’t be struck in the coming weeks, though Hu’s comments about the ‘real question’ being whether negotiations will continue after Friday appears to have rattled the market, which had presumably assumed that they would.

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To put this move in context, the selloff on the renewed trade tensions has cemented the pattern of this week, which has been one dead-cat bounce after another.

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So, how long before Trump poses for reporters with Liu He (who has been stripped of his ‘special envoy’ status for this week’s talks, giving him less authority to strike a deal without first reporting back to Beijing), assuring investors that a deal will happen and pushing stocks back into the green?


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