My understanding is that most of the hang ups to reaching a trade deal with the Chinese center around enforcement mechanisms. Trump wants teeth written into the deal if the Chinese cheat as they have often done in the past.
Futures are still right around 1.8% down on the Dow, 20 minutes ahead of the open. The Chinese exchanges really took a beating overnight. The Shanghai and Shenzhen indexes are now down 5.7 and 7.4%! Our expected drop is a cakewalk compared to theirs.
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