Much of the blame has been put on the US-China trade war. When it started over two years ago, there was hope it would get resolved as both sides kept the talks going. But a deal hasn’t come through even as Trump has put off the latest round of tariffs on Chinese imports (video games, smartphones, laptops, toys) to December 15. Tariffs on tools, apparel and some footwear took effect on September 1. The trade tiff between the two largest economies is creating uncertainty and investors are rushing to buy US bonds, a safe haven.