Navarro said his comments were taken “wildly out of context”, while Trump confirmed in a tweet the deal with China was “fully intact”.
This was the first time that President Trump has mentioned the possibility that the next package would include a broadly distributed stimulus check.
Here's a guide to what's driving financial markets now, in Wall Street's own words.
The bond market is holding firm in its conviction that the revival of the American economy from the devastation of the pandemic will be slow.