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On July 26, just three short weeks ago, the stock market was trading at a record high. During the heart of the Q2 earnings season, the stock market rose to a new all-time peak as many companies in the US beat analyst earnings estimates. At the same time, US trade negotiators were off to Shanghai to continue talking after Presidents Trump and Xi agreed to a moratorium on any new protectionist measures at the G20 meeting in late June. Moreover, the US Federal Reserve was about to carry through on its guidance from the June