“It’s imperative that we get a trade deal, otherwise I’m afraid the economy could grow at a slower pace,” Cardillo told the WSJ. “I believe we will get some sort of a resolution despite some of the hawks who are pressing for a strong deal. I doubt that’s achievable, but somewhere in the middle of the road is possible, and that will help the odds of a recession drop substantially in 2020.”
Technology stocks were among the laggards in U.S. markets, with HP Inc (NasdaqGS: HPQ) plunging 18.5% after reporting an earnings miss for the latest quarter.
President Donald Trump also cut short a summit with North Korean leader Kim Jong Un Thursday in Vietnam after failing to reach an agreement to reduce North Korea’s nuclear-weapons program and lifts on sanctions.
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