Navarro Knee-Jerk Shows How Sensitive Markets Are to Trade Talk
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Global investors were confronted with some significant swings Tuesday as a comment on U.S.-China trade from White House adviser Peter Navarro sowed confusion and whipsawed markets.
Risk assets slumped and havens jumped as traders took from a Navarro Fox News interview that January’s U.S.-China trade agreement was over. The moves reversed just as quickly after Navarro said the remark was taken “wildly” out of context and President Donald Trump later said the deal is “fully intact.”