After a tumultuous week ended on an up note, it seemed U.S. stocks might escape the trade spat with only bruises. Then came Monday, when the biggest sell-off in four months more than doubled last week’s damage.
What changed? The reality of a potential impasse took hold. Maybe the U.S. and China won’t come to terms. Maybe the stock market won’t be able to right its ship. And maybe the consequences will be too much for the economy.