Update : Minutes later, President 'good cop' Trump added reassuringly, as if nudged from off-stage by Larry Kudlow: "don't worry [on China], it will all work out."

However, he quickly swung back to 'bad cop' warning that: "we won't back down until China stops stealing our jobs."

* * *

Speaking at a rally in the Florida Panhandle, President Trump told the large crowd that China’s "Vice Premier is flying in" to continue trade talks, but "they broke the deal," adding that "they'll be paying."

This off-the-cuff incremental remark prompted selling in US equity futures, extending overnight losses...

S&P is down 0.5%...

Nasdaq took out the day session lows...

And the yuan slipped...

Along with yen. breaking below 110.00...

And oil prices are also tumbling...

This market is extremely sensitive to trade headlines.

As a reminder, U.S. and China are set to resume trade negotiations only hours before new tariffs take effect that would push the world’s two biggest economies deeper into commercial conflict