Market News and Commentary August 8

Oil Prices Drop On China Import Data, Weighing On Equities. Iran’s foreign minister: U.S. will not stop Iran oil exports: newspaper. China to slap additional tariffs on $16 billion of U.S. goods. EIA: U.S. crude inventories decrease 1.4 million bbl. Over $9 billion wiped off bitcoin’s value after SEC postpones key decision on a cryptocurrency ETF. U.S. sanctions threat hurts Russian banks, rouble.

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