China retaliated Monday against the latest round of U.S. tariffs by allowing its tightly controlled currency to slide to an 11-year low against the dollar. The move provoked the ire of President Trump, who believes that Beijing unfairly suppresses the value of the yuan to bolster Chinese exporters at the expense of the United States. It also rattled investors who’d just come away from the market’s worst week of 2019.
All 11 market sectors went negative Monday, with technology, financial services, and energy the hardest hit. Even defensive sector consumer staples took a punch. All 30 Dow stocks fell.
VIX LONG (Buy)
ENTER AT: 25.38