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"We are clearly in a parallel market," said Arian Vojdani, investment strategist at MV Financial. "The narrative – apart from solid economic data and good income – is not good."
"The investors are sort of holding their cards because they want to see how that happens," Vojdani said.
The upsurge in trade between the United States and China pushed up market volatility this week, with the Cboe Volatility Index (VIX) up 14%
. Kate Warne, investment strategist at Edward Jones. "People are really concerned about the trade that could slow down the US economy."
Axios reported Friday, citing sources, that Trump repeatedly told White House officials that he wanted the United States to withdraw from the World Trade Organization.
– Thomas Franck of CNBC contributed to this report.
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