U.S. Equity Markets slipped after President Donald Trump fanned trade-war flames anew. Treasuries edged lower while the US Dollar held steady. The S&P 500 Index sank as much as 1.3% after Trump warned that talks scheduled for next month could be cancelled, but pared about half that drop after a White House aide reportedly walked back comments that suggested the U.S. wouldn’t do business with key Chinese telecommunications firm Huawei. The 10-year Treasury yield inched up to 1.74%. Chipmakers were among the worst performers as the benchmark stock gauge halted a three-day rally and closed the week down 0.5%. It got off to a rough start Monday, when China’s currency devaluation sparked the biggest rout of the year.
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