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 Here is what you need to know. It's probably the most important moment yet in Trump's trade war with China. Thursday marks the end of a consultation period on the imposition of a new round of US tariffs on China, which, if enacted, would be set at 25% and affect $200 billion of Chinese goods. JPMorgan has established a blueprint for the next big market crash. JPMorgan's global head of quantitative and derivatives strategy, Marko Kolanovic, lays out his template for the next big market crash. He says it could cause the worst social tensions since 1968. Merrill Lynch says you should buy 2 stock markets to make a killing from the US's historic outperformance. Niladri Mukherjee, the head of CIO portfolio strategy at Merrill Lynch, told Business Insider about two markets outside the US that firm was bullish on long term. The crypto sell-off continues. Ethereum has been hit the hardest during the two-day sell-off, shedding 20% of its value to trade at its lowest level in over a year. Citigroup is expected to announce an overhaul of its investment bank. Citi's new-look investment bank will be coheaded by Tyler Dickson, currently the firm's global head of capital-markets origination, and Manolo Falco, the head of Citi's corporate and investment bank in Europe, the Middle East, and Africa, Business Insider's Alex Morrell and Dakin Campbell report, citing people familiar with the matter. Elon Musk reportedly lawyers up amid SEC investigation. Tesla's CEO has hired two lawyers as the US Securities and Exchange Commission reportedly investigates his tweets about trying to take the electric-car maker private, Fox Business says. JD.com is reeling in the wake of sexual-misconduct allegations against its CEO. Shares of the Chinese e-commerce giant have slumped 16% in the two trading days since CEO Liu Qiangdong was arrested in Minneapolis on an allegation of rape. He was not charged and left the US, and JD.com says he has been falsely accused. Stock markets around the world are mixed. Hong Kong's Hang Seng (-0.99%) led the losses in Asia, and France's CAC (+0.27%) is out front in Europe. The S&P 500 is set to open little changed near 2,890. Earnings reports trickle out. Dell Technologies reports ahead of the opening bell, while Broadcom and GameStop release their results after markets close. US economic data is heavy. ADP Employment Change will be released at 8:15 a.m. ET before initial claims cross the wires at 8:30 a.m. ET. Then, at 9:45 a.m. ET, Market Services PMI is due out. Data concludes at 10 a.m. with ISM nonmanufacturing, factory orders, and durable-goods orders. The US 10-year yield is down 1 basis point at 2.89%. | 
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