At around 12:30 Central today, US President Donald Trump announced via Twitter that the US will increase tariffs against Chinese trade.
Both oil and equities fell quickly as the news broke. WTI dropped to under $54 in the next hour.
The charts included to the left show the implied trade frictions from additional tariffs took their toll quickly and across asset classes. These charts stop at 1:00 PM Central time, but the two prices headed lower after that.
Trump’s several Tweets read as follows: