Category: Trucking News

Global Markets: Trade war worries slam China and emerging markets

Global Markets: Trade war worries slam China and emerging markets

Chinese stocks fell almost 4 percent and alarm bells rang across global markets on Tuesday, as the trade dispute between the United States and China escalated further. The yuan also hit a five-month low overnight after U.S. President Donald Trump's threat to impose a 10 percent tariff on another $200 billion of Chinese goods drew warnings from Beijing about $50 billion of retaliatory penalties on U.S. goods. Europe's main equity benchmarks sank 1 to 1.5 percent in early trading and Wall Street futures were pointing to similar falls there later, while safe-haven government bonds and the Japanese yen rallied as investors sought protection.


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