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White House trade adviser Navarro crossed the wires in the last minutes, saying that they will continue to negotiate with China, as they have been,   behind closed doors. “Trade war with China does not mean the US economy is going to slow,” Navarro told Fox Business.

The 10-year US treasury bond yield, which gained as much as 2% earlier in the day, erased its daily upside amid the souring market sentiment and was last flat on the day at 1.61%.