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Here is what you need to know.

The stock-market meltdow relents with a global rally. Global markets are in rally mode after two days of heavy selling, with Hong Kong’s Hang Seng (+2.12%) pacing the advance in Asia and Britain’s FTSE (+0.69%) out front in Europe. The S&P 500 is set to open up 1.3% near 2,764.

Trump says he can do ‘a lot more’ to hurt China’s economy if no concessions are made ahead of Xi meeting. “It’s had a big impact,” Trump told Fox News in regards to the impact of the tariffs he recently placed on China. “Their economy has gone down very substantially and I have a lot more to do if I want to do it.

China posts a record trade surplus with the US. China’s trade suplus with the US ballooned to a record $34.13 billion in September, easily surpassing the previous record of $31.05 billion that was set in August, Reuters reports.

Gold logs its biggest gain since Brexit. Thursday’s stock-market sell-off sparked a flight to safety that sent the yellow metal up 2.46% to more than $1,224 an ounce, making for the biggest gain since the Brexit vote in June 2016.

The madness in markets has traders paying the most in years to protect against more damage in tech stocks. Skew, or the premium options traders are paying to protect against a 10% loss in the PowerShares QQQ Trust ETF over the next three months, relative to wagers on a similar increase, is at a level only seen a handful of times in the past decade.

Richard Branson and Virgin Group are severing their business relationships with the Kingdom of Saudi Arabia. In a blog post on Virgin Group’s website, the company said Virgin Galatic and Virgin Orbit will suspend its …read more

Source:: Business Insider


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