The market opened weaker as the White House announced an escalation of trade tensions between the US and China. The new story was that the US would/may raise the current $50 billion trade tariffs by an additional $100 billion.
Would the Chinese reciprocate with the same number? Was it a bluff by the White House?
Despite the market rally in the first 30 min of the day, it remained weak, and then got worse. The slide made a second run lower when the Fed Chairman did NOT include in his prepared speech that he would do his best impersonation of Ben Bernanke or Janet Yellen: save the market because it was down.
At one point, the Dow was down nearly -800 points.