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The threat of a full-blown U.S.-China trade war is having less impact on both investor sentiment and stock prices than might be expected, judging by double-digit gains for the Nasdaq and modest but positive returns for the S&P 500 so far this year.
To a large degree, the prospect of a wider trade conflict hasn’t been enough to untrack the market leaders that lifted Wall Street throughout the first half of 2018 — albeit with higher volatility. "