2 Simple Reasons Why US Assets Are Now More Vulnerable To Volatility In China’s Currency

Wall Street stumbled hard out of the gate in the new week amid thin summer trading. All the major US benchmarks were down more than 1%. Weighing on sentiment was ongoing friction in Hong Kong, where flights were canceled as protests and social unrest continue unabated, raising fears that Beijing will ultimately intervene to restore order, even at the cost of damaging Xi's international image. At the same time, a shockingly large primary defeat for Argentina's Mauricio Macri presaged a return t