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In an interview with CNN,  White House trade advisor Peter Navarro said that the trade deal with China ‘will take time,’ per Reuters. Touching on the monetary policy outlook, Navarro, once again, called upon the Federal Reserve to cut the policy rate.

It’s unclear if these comments are having a direct impact on the market sentiment but major equity indexes are all posting modest losses in the early trade. At the moment, both the Dow Jones Industrial Average and the S&P 500 indexes are down 0.5% on the day.