Chinese stocks sold off again Friday, with the Shanghai Composite down a further 1. Singaporean stocks fell more sharply, after the city-state announced tighter limits and higher taxes on real-estate sales, hitting property companies. The FTSE Strait Times Index was turn lights off quotes forex 2.
After months of intensifying rhetoric, trade tensions between the world’s two largest economies are finally translating into concrete action. 34 billion of Chinese goods across hundreds of product categories came into force at midnight ET on Friday. Beijing was set to levy duties on the same value of U. The tariffs have been a driving force in markets around the world this year, particularly for China and the export-heavy economies nearby.
Since steel and aluminum tariffs were initially announced by the White House in March, defensive sectors–like utilities, health care and consumer staples–have outperformed globally. Those that benefit when economic conditions and risk appetite are improving–like financials, industrials and technology–have lagged behind. Though the direct impact of Friday’s tariffs is small, investors have worried about what comes next: more tolls on imports, further investment restrictions or, possibly, aggressive currency-weakening by China. Most analysts and investors expect the Chinese and U. While the prospect of a trade war between the U. China has increased, we nevertheless believe that the risks remain contained–for now,” said Peter Donisanu, strategist at the Wells Fargo Investment Institute. But the general consensus that the tit-for-tat escalations will eventually result in a compromise also leaves global stocks at risk of further weakness if both sides proceed with the increasingly broad measures they have threatened.
Risks are rising from this game of chicken. Markets are not yet ready to trust the Trump administration on trade negotiations,” said Joseph Amato, chief investment officer of equities at Neuberger Berman. The next few months will be a vital proving period for that trust, during which the noise and anxiety are likely to increase. We still believe the two biggest players are likely to swerve from their collision course and avoid a truly damaging outcome.
Oil prices dropped slightly, with Brent crude down 0. The FX market was relatively quiet, with the ICE U. CAMBER ENERGY INC : CAMBER ENERGY, INC. Entry into a Material Definitive Agreement, Creation of a Direct Fin. Many of us don’t have to turn out the lights to be in the dark. How does this quote make you feel?
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