‘Can’t Believe What’s Coming Across’: Traders React to Headlines
- Conflicting headlines over trade prompt wild swings in stocks
- Equity gains finally took hold as China confirmed progress
Photographer: Michael Nagle/Bloomberg
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Renewed trade jitters spurred a surge in stock volatility as conflicting signals from both the U.S. and China over trade mystified investors.
Stocks were whipsawed in early Friday trading and the Chinese yuan briefly weakened to above 7 per dollar after President Donald Trump disputed reports that the U.S. is prepared to partially roll back existing tariffs. Minutes later, stocks jumped and the yuan extended gains after Chinese officials cited a major advancement in trade talks.