The increased likelihood of an all-out trade war and “fresh rules on Chinese investment in technology companies” have met a market that has been running hot for a very long time. If your portfolio is plummeting, you’re not alone. Bloomberg: U.S. Stocks Fall Most Since April on Trade Angst. (If we want to compete with China, we don’t need tariffs. We need inspiration, investment, and to attract every immigrant with a dream to help build America’s future…)

+ NPR: “Harley-Davidson says it plans to move production of motorcycles it sells in Europe overseas in response to growing trade friction between the United States and Europe.” (That’s not how this played out on the administration’s white board…)