This oughta end well ...

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EVERYONE, REMAIN CALM!

Donald Trump’s weekend tweet threatening new tariffs on China sent the Dow Jones into a tailspin after hours on Sunday. On Cinco de Mayo, no less! Investors worried that Donny T’s tweets might deter China from attending this week’s trade meetings and that all hell might break loose between the countries. As a result, the market dropped 471 points to kick off the week. 

Just when it appeared that all was lost, however, Chinese Vice Premier Liu assured the world that he still planned to make the trip to the US, albeit with a much smaller delegation than the 100 originally planned. Likely after asking the diplomatic equivalent of “so, who’s going to be there?” 

Mr. Trump’s wild ride

News that the trade talks remain very much "a go" gave investors hope that a deal might still be reached, helping The Dow recover, closing down only 66 points. The S&P and Nasdaq were also in the red at the close, at just 0.4% and 0.5%, respectively. 

According to Goldman Sachs analysts, a tariff hike is unlikely. GS places odds of an increase at 40%. I wonder who they like at the Preakness? Citi also believes that as long as talks don’t cease entirely, and even if Liu’s trip were to be canceled, the current tensions are still a long way off from a full-blown trade war.

Dow makes stunning comeback, recovering nearly all of 471-point plunge on hope trade deal not dead  [CNBC]

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