Futures tied to the Dow Jones Industrial Average were down 0.4%, and the yield, while the Stoxx Europe 600 gauge fell 0.9%.

US and Chinese negotiators now have only six days, including the weekend, to make sufficient progress towards a trade agreement in principle that would avoid new 15% tariffs on about $156 billion worth of Chinese products. It is unclear whether a compromise will be reached, or even whether, in the absence of a formal agreement, Donald Trump will decide not to apply the new taxes if he considers that sufficient progress has been made.

You've probably never heard of Sonny Perdue. It's the U.S. Secretary of Agriculture. He has been in the spotlight since last night thanks to Bloomberg, who relayed his comments that he doesn't think the tarrifs will be applied on December 15, he said. We cling to what we can.

In any case, the decision of December 15 should mark the border between a calm year-end and a more nervous year-end. While keeping in mind that 2019 will remain an excellent vintage... if everything remains under control until 31, of course.

Meanwhile, before the elections scheduled for this Thursday in the United Kingdom, polls still predict a victory and a majority for the Conservatives. Tomorrow, the Fed should keep its rates unchanged after lowering them after the last three meetings. According to estimates from the CME FedWatch tool, the probability of rates remaining unchanged is 99.3.

In the United States, attention will focus on revised quarterly data on productivity and labor costs. This morning, Chinese inflation and producer prices came out in line or very close to expectations.