Hate to sound wishy-wasgy but tonight’s markets are acting like this will all be smoothed out over the weekend.
Like Trump and Xi acting tough but have a deal in hand...
Guess we’ll see Monday.
China State Funds Prop Up Stocks: https://www.bloomberg.com/news/articles/2019-05-10/china-state-funds-prop-up-stocks-after-hit-from-u-s-tariffs?srnd=new-economy-forum
Shanghai Composite Index sees huge intraday swing on Friday
Shares had opened higher, then tumbled on news of tariff hike
State Banks jumped in, the Shanghai Composite closed up 3.1%.
They will also do things like threaten, or make examples out of, people who sell when the State officials tell them not to.
Their resources available to manipulate their markets (and currency) are not unlimited, but we are not yet close to their breaking point.