Futures tumbled and recovered last night, following White House trade adviser Peter Navarro's interview on Fox News’ "The Story" hosted by Martha MacCallum, where he says China trade deal is "over." There are multiple media stories carrying this story and the timing of the dive in futures is consistent with this interview. But as someone pointed out, Navarro made this statement, only after a lengthy interview and it actually comes across as more of an "off the cuff" statement.
This is the actual question and his response. And the question does not say "trade deal" and Navarro only chose to make his statement after this question. But the interview up this point, was more of a long-winded criticism of China and its deceptive practices, etc. So it will interesting to see if the White House backtracks or qualifies these comments on Tuesday am, especially after Navarro’s clarification last night.