Trading Trump: Wall Street stresses over White House comments
- 5 years ago
According to Reuters, JPMorgan Chase & Co’s trading desk was not buying what U.S. President Donald Trump was selling this week.
On Tuesday, major stock indexes plummeted more than 3 percent on renewed fears of a trade war with China — just days after Trump tweeted, following a steak dinner with Chinese President Xi Jinping, that “Relations with China have taken a BIG leap forward!”
JPMorgan wrote in a note to clients, “It doesn’t seem like anything was actually agreed to at the dinner.