Stocks Dumped On Trump China Comments

With stocks back near record highs (having recovered quickly from their last Trump-driven plunge), it appears the hubris of market strength rubbed off again on the President as he dropped the following tape-bombs once again raising the rhetoric on any possible trade deal with China:

• *TRUMP: MAYBE MEETING WON’T HAPPEN WITH XI

• *TRUMP: I WANT XI TO HAVE A GOOD DEAL FOR CHINA

• *TRUMP: EXPECT TO MAKE GOOD DEAL WITH XI

• *TRUMP: WE BUILT CHINA’S MILITARY WITH ALL MONEY WE LOST

Sending stocks tumbling, sending Nasdaq into the red…

Interestingly, the comments came just as Nasdaq reached back to unchanged since the President’s last tweet-driven plunge…

Gold rallied a little while bitcoin fell on the news…

What kind of drawdown will we need this time to pressure the TACO trade move to come back?