Spells trouble for reaching an agreement by March

The FT is reporting that the Trump administration has rejected an offer by two Chinese vice – ministers to traveled to the US for the preparatory trade talks. The reason for the rejection is as a result of progress on 2 important issues:

  • lack of progress on force technology transfers
  • potentially far-reaching structural reforms to China's economy

You can read about it HERE.

US stocks continue to be pressured with the Nasdaq now down -132 points or -1.93% at 7018.64. The price has now moved below the 50 hour MA at 7021.

The S&P index is trading down 42 points at 2628.24. It's 50 power moving average comes in at 2614.86.