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Citing sources familiar with the matter, Bloomberg on Tuesday reported that the Trump administration was looking to limit Chinese stocks within the government pension fund.

With the initial market reaction to this development, the 10-year United States (US) Treasury bond yield extended its slide and was last down 2.22% on the day at 1.528%. Reflecting the dismal market mood, the S&P 500 Futures continued to push lower and is now losing 0.6% on a daily basis, suggesting that Wall Street’s main indexes will start the day deep in the negative territory.