10 things you need to know in markets, October 30

Good morning! Here’s what you need to know in markets on Tuesday.

Gary
Cameron/Reuters

1.
China’s financial markets have had another wild
session.
Both stocks and the Chinese yuan were
off their earlier lows and trading was volatile, even by China’s
recent standards. The Shanghai Composite Index was up about 1%
about 15 minutes before closing. Meanwhile, US President Donald
Trump said he thinks there will be “a great deal” with China on
trade, but warned that he has
billions of dollars worth of new tariffs ready to go if a
deal isn’t possible.

2. The
US government is about to issue $1.3 trillion in new debt this
year. 
The debt issuance
represents a 146% jump from 2017 and the highest amount of new
debt issued since the recession.

3.
US President Donald Trump and his children have been accused of
“deliberately” scamming Americans according to a complaint filed
in federal court on Monday. The president
allegedly went about encouraging people to invest in a very
doubtful multilevel-marketing company for which he was reportedly
paid millions.

4.
Google employees are reportedly planning a walkout this week in
protest of the recent sexual misconduct
revelations.The New York Times reported last week
that former employee Andy Rubin, the creator of Android,was
paid a $90 million exit package when he left the company
following a sexual misconduct investigation.

5.
Evan Spiegel named a new chief business officer for Snap before
giving the job to someone else two days
later.Kristen O’Hara, the sales executive whom
Spiegel first named to the job, has now left Snap.

6. The
Pentagon is sending 5,200 troops to the
border.President Trump has been focused on halting a
caravan of Central American migrants inexorably moving
north.

7.
Facebook, Amazon, Netflix and Google were at the center of a
volatile session on the US stock market on Monday,
cleaving $200 billion off of the so-called FANG group’s combined
market capitalization in two sessions.

8. Billionaire investor
Warren Buffett’s Berkshire Hathaway now has investments in two
emerging-market fintech
startups, the
Wall Street Journal reports. Back
in August, Berkshire bought a $300 million
stake in Paytm, the India-based mobile payments
platform. Then last week, Berkshire bought shares in the IPO
of Brazil-based payments provider StoneCo.

9. Every time President Donald Trump mentions the $110
billion arms deal he negotiated with Saudi Arabia last year, he
quickly follows up, saying “It’s 500,000 jobs.” But
if he means new US defense jobs,
An internal document seen by Reuters from Lockheed Martin
forecasts fewer than 1,000 positions would be created by the
defense contractor, which could potentially deliver around $28
billion of goods in the deal.

10. South Korea
has asked the US for “maximum flexibility” on its request for a
waiver to prevent South Korean companies from being affected by
renewed US sanctions against Iran. South
Korea, a US ally and one of Asia’s biggest buyers of Iranian oil,
has already stopped crude imports from Iran. The
sanctions against Iranian crude oil exports are set to take
effect on November 5.