Investors are remembering the market sell-off of 2018 and fearing another one. President Trump’s remarks about putting off a China trade deal have sent shares sliding. How will the markets react if no trade deal is achieved by December 15th?  Patti Domm offers analysis for CNBC.  New shopping patterns among consumers may affect next year’s markets. Russ Koesterich of BlackRock looks into the changing marketplace that will shape the economy in 2020. Americans are paying the cost of tariffs on Chinese goods. That’s according to a study released by the NY Federal Reserve on Monday.

Investors Fear Another December Sell-Off If Trump Lets Tariffs Take Effect Dec. 15 –President Trump’s comment that he could wait until after the 2020 election for a trade deal with China sent stocks reeling. Markets had been expecting a trade deal by Dec. 15 — the date for another round of tariffs on Chinese goods are scheduled to take effect. If progress on trade talks isn’t made, “we’ll probably limp in the rest of the year,” said Jack Ablin, chief investment officer at Cresset Wealth Advisors. Read more…

U.S. Consumers: Calm Surface, Revolution Below — Despite suffering episodic bouts of volatility centered on politics and policy, two pillars continue to support the economy and markets: central banks and the U.S. consumer. Russ Koesterich of BlackRock forecasts what to expect in 2020 and focuses on how consumption patterns are changing. Read more…

Americans, Not Chinese, Pay Trump Tariffs: NY Fed Study –When the Trump administration imposed tariffs on Chinese imports last year, officials insisted China would pay the cost – implying Chinese firms would have to cut their prices to absorb import “taxes” of up to 25% when the goods hit U.S. shores. But that’s not what has happened. Read more…

John R. Day, Bill Ennis, Stephanie Hall, and Matt Heller

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