GLOBAL MARKETS-U.S.-China trade war keeps markets on their toes

Uncertainty about the fate of the trade negotiations between the United States and China kept markets on their toes on Friday, with European stocks benchmarks mimicking their Asian peers and retreating from the previous session’s highs. Overnight on Wall Street, the Dow and S&P 500 reached record closing highs on hopes of a truce to end the damaging tariff war but a Reuters report that the White House opposed aspects of a tentative deal limited the day’s gains. “The trade deal is the predominant driver”, for markets at the moment said Lars Kreckel, global equity strategist at Legal & General Investment Management, noting that this morning dip in market was a just knee-jerk reaction to the latest news on the U.S.-China front.