Futures Tumble After Trump Says “Better To Wait Until After The Election” For China Trade Deal

On Tuesday morning, President Trump tells reporters in London that his administration is progressing “very well with China right now” in formulating a trade deal. Futures jump on the news then fade it hard. Then moments later, he spills the beans of how there’s actually no trade deal in sight.

03-Dec-2019 05:09:09 AM – TRUMP SAYS WE ARE DOING VERY WELL WITH CHINA RIGHT NOW
03-Dec-2019 05:09:18 AM – TRUMP SAYS CHINA TRADE DEAL IS DEPENDENT ON WHETHER I WANT TO MAKE IT
03-Dec-2019 05:09:47 AM – TRUMP SAYS I HAVE NO DEADLINE ON TRADE

Equity futures in Europe and the US slide after Trump says, “better to wait until after the election for the China trade deal.

03-Dec-2019 05:10:00 AM – TRUMP SAYS PROBABLY BETTER TO WAIT UNTIL AFTER THE ELECTION FOR THE CHINA DEAL
03-Dec-2019 05:10:10 AM – TRUMP SAYS WE WILL SEE WHETHER THE CHINA DEAL IS GOING TO BE RIGHT
03-Dec-2019 05:10:23 AM – TRUMP SAYS I HAVE NO DEADLINE ON CHINA DEAL AND IT MIGHT BE BETTER TO WAIT UNTIL AFTER NOVEMBER 2020 ELECTION

E mini S&P500, Nasdaq, and Russell 2000 slide on the news that a trade deal could occur after the 2020 election.