US Equities Tumble On Ross' China “Direct Threat” Comments

Original post

Everything was looking so awesome this morning.. .until Commerce Secretary Wilbur Ross told a group in Davis that China’s 2025 Technology Plan was a “direct threat” to the US, sparking another round of protectionist-fear-driven selling in stocks…

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Trannies were already under pressure from United’s drop, but Ross’ comments pushed The S&P red briefly…

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The move in stocks has also been assigned to the fact that 10Y Yields are back at 2.66%, triggering fears that TINA is over and the cost of funding buybacks is soaring.

Interestingly, no reaction in bonds or the dollar (which both continued their trends lower in price).