The stock market is crashing big time over China's response to Trump's new tariffs that are set to begin on September 1st...
...and Varney & Co are not happy campers!
FOX Business Network's Stuart Varney brought on a host of people to discuss the market's reaction. This morning it opened at almost 400 points down.
Michael Pillsbury from the Hudson Institute wasn't worried and demanded we trust Donald Trump's negotiating skills.
Varney was not moved.
After a quick discussion on the trade deficit, Varney said, "Let's get back to your money, forgive my language but all hell's breaking loose this morning."
At that point in time, the stock market was down 384 points.
Dennis Gartman joined the show and Varney said, "It's going to be a long drawn-out trade war and I think that's a negative for the stock markets, what do you say?"
Gartman replied, "It's clearly a negative for the stock markets and it's been a negative for the last several weeks."
After saying Xi and Trump are both losing face, Gartman said, "I'm afraid this can go on for a long time."
He then mocked Phillip Pillsbury as being improperly optimistic.
As I write this article the stock market is down over 700 points.