Market News of the Day: Protectionism putting the bull market to the test...

For the umpteenth time, we emphasize that, while our analysis of current conditions favors equities going forward, we see a U.S. push toward protectionism as the development that will put the data, and, thus, our thesis, to the test. 

From Bespoke Investment Group's evening commentary:

Politico reported today (with confirmation from Axios) that the Trump Administration is aiming to impose new tariffs on Chinese imports; $30bn of imports is said to be under threat. That’s equivalent to roughly 8% of total 2017 imports from China. That combined with the firing of Secretary of State Tillerson were enough to send stocks lower and rates down, at least for today.