This is fine, everything is fine ...

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EVERYONE, REMAIN CALM!

OK, maybe it’s time to panic. The Dow Jones dropped 473 points on Tuesday after the White House accused China of reneging on agreements it had made previously in trade talks. The Dow fell as much as 600 points, closing down 1.8%. The S&P and Nasdaq suffered similar fates, down 1.7% and 2% respectively. 

There's still a chance ...

Beijing announced that it will still be sending Vice Premier Liu to Washington, but Liu and Trump’s meeting will start on Thursday, a day later than initially planned. While Liu is here, the delegations will discuss the US’ demands ... and probably a topic or two China wants to cover. If China doesn't agree? Well, tariffs on more than $200B worth of Chinese goods are still on the table, and they can be enacted as soon as Friday. 

What are the chances?

According to Jeffrey Gundlach, Chief Investment Officer of DoubleLine Capital, the chances of those tariffs being implemented sits above 50%. Gundlach also called the US economy rudderless, which is a PC way of saying "sh*tty."

When asked, Chinese Foreign Minister, Geng Shuang, said: “It’s only natural for the two sides to have differences.” That’s a very polite way to say, “we’re all f*cked if this doesn’t happen.” 

Stock Markets In Turmoil Amid Uncertainty Over U.S.-China Trade Talks  [NPR]

IN OTHER NEWS

- GM Cruise raised another $1.15B ... because why not? [TechCrunch]

- Google's I/O conference kicked off yesterday [TechCrunch]

- Lyft released its first financial statements as a public company [CNBC]

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