How Low Can It Go?

Playbook: “President Donald Trump’s astonishing, tariff-induced market meltdown is still only headed in one direction — and fears are growing about how big this crash could become. Asian stock markets suffered further spectacular losses overnight, in some cases so large they triggered built-in ‘circuit-breakers’ which temporarily halt trading to prevent a wider collapse.”

“The S&P Futures markets also tumbled further yesterday, giving a pretty clear indication of what traders believe is coming when the New York Stock Exchange reopens at 9.30 a.m. It’s hard to think of any example in modern U.S. history when the actions of a president have directly triggered something like this.”