G Summit: Trade War and Buenos Aires

g summit: Trump and China's president, Xi Jinping, reached a 90-day trade truce after a dinner at the G20 summit in Buenos Aires on Saturday, according to The Guardian. But differing reports on the terms of the truce from Chinese and US officials rattled investors fearful of a full-on trade war between the two economic superpowers. The Dow Jones industrial average lost close to 800 points just over 3%. Other market indexes also fell sharply the S&P 500 lost 3.2% and the Nasdaq dropped 3.7%. Markets in Asia Pacific followed suit on Wednesday with Tokyo and Seoul both down 0.8%, and Australia's benchmark ASX200 index falling 1.35%. Stock markets had rallied on Monday after Trump tweeted Relations with China have taken a BIG leap forward! But as the agreement was questioned on Tuesday, Trump called himself a Tariff Man and warned more levies could be imposed on China. After the meeting Trump told reporters It's an incredible deal. But details of the deal have since unravelled. If it goes down, certainly, if it happens, it goes down as one of the largest deals ever made. (news.financializer.com). As reported in the news.