The US Is Stumbling Towards Two Worst-Case Scenarios

Although US equities advanced for a third consecutive session Thursday, you didn't have to look very far to find evidence of trade frictions. Semi stocks were sharply lower, bucking the broader market trend, and paring an impressive two-day rally in the process. Through Wednesday afternoon, the SOX had erased well more than half of Monday's egregious losses, but Donald Trump's decision to blackball Huawei changed the game. The Huawei news was insult to injury for Micron, which is now down mo