Stock Markets Have Been Looking for the Next Big Risk. They May Have Found It.

Market Overview - U.S. stocks experienced 33 trading days without a 1% pullback, indicating muted volatility and a bullish market trend leading to record highs [1] - This trend was abruptly interrupted as investors identified vulnerabilities in the market as the year-end approaches [1] Trade Relations - President Trump's threat of "massive" tariffs on China and the possibility of canceling a meeting with President Xi Jinping could escalate the ongoing trade war, impacting market stability [2] - The tariff threat is part of a series of retaliatory measures in the U.S.-China trade dispute that has persisted for several months [3]