SPDR S&P 500 (SPY)

[Schneidku40]

Yesterday China was labeled a currency manipulator as their yuan went under the $7 level for the first time in over 10 years, sparking fears of a currency war beginning as well. The last time the us accused China of currency manipulation in 2015 the Dow fell 1,000 points in a day. Overnight, China pegged their midpoint for the Yuan for today back above $7. That’s why futures reversed.