The group discusses the sell-off in the equity markets as trade war fears escalate, with the MSCI Emerging Markets Index (EEM) also getting hit hard with China issues. We take a look at the continued strength of the consumer as reported in the latest GDP reading as well as the UMich Consumer Sentiment reading for October, and while retailers are more or less holding the markets up, will that crack under inflationary pressures? Lastly the ER explores IBM’s acquisition of RedHat - is this a defensive or offensive deal and what does it mean for the markets and the enterprise tech space in general?