The Tell: Founder of world’s largest hedge fund says ‘first day of the war’ with China has begun

Has a trade war started? The stock market doesn’t suggest that a full-scale trade fight between China and the U.S. has erupted, but a tweet from Ray Dalio, founder of hedge fund Bridgewater Associates, implies otherwise.

Friday afternoon, Dalio tweeted: “Today is the first day of the war with China.”

Today is the first day of the war with China.

— Ray Dalio (@RayDalio) July 6, 2018

The tweet from the founder of the world’s largest hedge fund, which manages some $160 billion, comes after the U.S. slapped levies on $34 billion of 25% on China’s exports at midnight, and President Donald Trump threatened further action.

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