Equity Markets—further to fall

The sharp drop in equity markets has further to go. The threat of a trade war will not dissipate overnight. Indeed escalation is more likely.

The appointment of John Bolton as National Security advisor puts the final confirmation that the US is gearing up for war. This does not mean there will be a war but it does mean that North Korea will abandon its nuclear program or else it will be destroyed with an unquantifiable amount of collateral damage.

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