We've been down this road, but Ross reminds us that It's possible Chinese tariffs will "not be cataclysmic"

The US stocks are opening with declines on continued trade tensions. The US proposed a 25% tariff on $200B of Chinese goods. Wilbur Ross was on Fox Business and said that its possible Chinese tariffs will not be cataclysmic. No one knows what may happen but it can still be unsettling to the stock markets. You hope at some point, the parties say "Uncle" and a solution is found.

For the US markets:

  • S&P is down -15.6 points or -0.56%
  • Nasdaq is down -39 points or -0.50
  • Dow is down -170 points or -0.68%

In the US debt market, yields are lower

  • 2 year, -1.2 basis points. The low reached 2.661%
  • 5 year, -1.3 basis points
  • 10 year, -1.3 basis points
  • 30 year, -0.6 basis points