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A fresh bout of risk aversion is hitting global stocks after tough words on trade from Beijing suggested that while a potential U.S.-China deal could happen further into the future, its impact on the world economy would be far more immediate. The Communist Party's People's Daily used a front page commentary to evoke the patriotic spirit of past wars, saying its trade battle would never bring China down. Stocks in Shanghai fell 2.5% on the news, while Dow futures are off more than 100 points. Other fears plaguing the markets are the prospect of European auto tariffs. While reports this week pointed to a delay, the White House has until midnight to decide on the levies.