Wall Street Obsessing Over Xi Jinping's Speech Tonight For Clues On What Happens Next

Following Trump's Sunday morning tweet, in which the US president said that he will always be friends with Chinese president Xi Jinping no matter what happens yet at the same time predicted that China will be first to blink in a trade war, tweeting that "China will take down its Trade Barriers because it is the right thing to do", traders were spooked by an overnight report that China is studying yuan devaluationas a tool in the trade spat.