Any guesses how the WH will respond this morning when they wake up?
Add more tariffs ? This move by China pushes deflation to the rest of the world. So the question is at what point do the Manufactures in the US move those plants to other countries so they can take advantage of the cut in prices that China devalue gives those countries.
Remember trade wars are easy to win.
One more thing on how this plays out going foward. China has told its Ag buyers no more US purchases, this will lead to over supply of grains and lower prices for a long time anybody want to bet that this administration pushes a land idling program.
Dow and Nasdaq also tanking.
As for a land idling program...it'll never happen under this administration as at least one of his personally chosen ag advisor team has deep ties to the livestock feeding industry who want cheap feed.