Minutes after Powell delivers "Not QE", President Trump appears to have taken the trade war to DEFCON 1 as headlines drop that the US is imposing visa bans on Chinese people linked to the human rights buses in Xinjiang.

Stocks immediately dumped all the "Not QE" gains and more and gold spiked...

Erasing all the moves from Powell's speech...

As @Hipster_Trader joked "Stocks turned red. Better announce QE5."