The futures on CBOE VIX index (VIX) surges almost 7% as US500 drops 1.8% on fears that trade war between US and China will escalate further, as China decided to increase tariffs on US goods from 34 to 84%, before negotiations with White House. Futures on US2000 are down 2.5% while US30 and US100 loses almost 2%. Markets sees Beijing decision as a signal that China are ready for a real trade war if Trump will not decide to lower 104% tariffs on Chinese goods. China had previously signalled its willingness and ability to "fight to the end." Also, European stocks lose momentum after the Chinese decision. The US Treasury Secretary Bessent commented that 'China should come to the table and Chinese retaliatory tariffs are unfortunate' in a Fox Business Network Interview.
Source: xStation5
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