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Summer Epocalypse Countdown: Trump Turmoil Takes Top Off Trump Rally

Summer Epocalypse Countdown: Trump Turmoil Takes Top Off Trump Rally

The following article by David Haggith was published on The Great Recession Blog:

When financial Armageddon arrives, it can hit in a flash like a dangerous rogue wave — the kind that rises up when two big waves from different storms intersect and merge into a single wave big enough to capsize a ship. The global Wannacry warware attack and endless waves of Trump turbulence came together with just such damaging synergy last week, knocking the top off the Trump rally.

 

Black swans unite and strike stocks

 

S&P Futs Near All Time High On Strong Euro Data; Oil Drops On Trump's SPR Sale Plans

S&P Futs Near All Time High On Strong Euro Data; Oil Drops On Trump's SPR Sale Plans

S&P futures rose alongside European stocks as Asian shares posted modest declines. The euro set a new six-month high and European bourses rose as PMI data from Germany and France signaled that the ECB will have to tighten soon as Europe's recovery remains on track, with the German Ifo business confidence printing at the highest level on record, and hinting at a GDP print in the 5% range. Oil declined after the Trump budget proposal suggested selling half the crude held in the US strategic petroleum reserve.

Turkey Summons US Ambassador To Protest Brawl In Which Erdogan's Bodyguards Beat Up Protesters

Tensions stemming from last week's massive brawl, caught on video, between pro-Kurdish protesters and Turkish President Recep Erdogan's security detail, escalated on Monday after, paradoxically, Turkey lodged a formal complaint with John Bass, the U.S. ambassador in Ankara, over purportedly "aggressive" actions taken by American security personnel. The complaint accused U.S. law enforcement of failing to quell an "unpermitted" and "provocative" demonstration, and demanded a "full investigation of this diplomatic incident," according to WaPo.

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