US household wealth has fallen by at least $5 trillion so far this year amid an intense market selloff, according to a JPMorgan Chase note seen by Bloomberg. The losses could amount to $9 trillion by year-end, it estimated.

Beijing says it has “no room for compromise” on sovereignty and territorial integrity Beijing warned on Monday it would take all necessary measures to defend its territorial integrity, and urged Washington not to “underestimate” the resolve of the Chinese people.

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