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Stocks Plunge After Grassley Admits "Little Progress" In China Trade Talks

Well that de-escalated quickly…

JPMorgan’s losses weighed on the indices but NFLX price-hike sparked an opening buying frenzy… but that is all gone now as Senator Chuck Grassley said that USTR Lighthizer saw little progress in last week’s China trade talks on structural issues or IP protections.

Stocks tanked…

Grassley says Lighthizer made the comments to him on Friday during a meeting about Soybean purchases.

Nasdaq reversed perfectly at its 50DMA…

Yuan also tumbled…

Source: zerohedge.com

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