Stock markets attempt rebound as trade war flares
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Stock markets on both sides of the Atlantic staged a fightback yesterday, paring heavy losses sparked by a raging US-China trade war over the past week. World oil prices bobbed higher on concerns about tensions in the crude-rich Middle East, dealers said. “Stock markets attempt rebound as trade war flares
Stock markets on both sides of the Atlantic staged a fightback yesterday, paring heavy losses sparked by a raging US-China trade war over the past week. World oil prices bobbed higher on concerns about tensions in the crude-rich Middle East, dealers said. “Equities are attempting to claw back some lost ground,” noted analyst Chris Beauchamp at trading firm IG, “but the overall atmosphere of caution still prevails”. On Wall Street the Dow gained around 100 points, or 0.4 per cent, at the opening bell, having lost a whopping 2.4 per cent on Monday when the tech-heavy Nasdaq plunged 3.4 per cent. “US stocks are recovering from yesterday’s drop in early action, which was the largest one-day fall since January, with the escalated trade tensions between the US and China continuing to be eyed,” Charles Schwab analysts said. They added, however, that President Donald Trump’s statement that a meeting next month with Chinese President Xi Jinping would be “successful” gave investors some hope for a peaceful resolution of the trade standoff. Earlier, Asian markets sank further, in reaction to Monday’s United States stock plunge, seen after China hiked tariffs on $60 billion of US... Read more














