As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by REUTERS.COM:
NEW YORK (Reuters) – Concerns about an escalating U.S.-China trade war made markets topsy-turvy on Wednesday, with U.S. stocks breaking a four-session winning streak and Brent crude prices seeing their biggest one-day drop in two years.
Even so, the U.S. dollar hit a six-month high against the safe-haven Japanese yen as currency traders put trade worries aside and focused on Labor Department data that showed producer prices rising more than expected.
The article goes on to state the following:
Metal prices also slumped after U.S. President Donald Trump’s threat overnight of 10 percent tariffs on another $200 billion of Chinese goods dampened hopes that Washington will eventually step back from the escalating row.
The clock now starts ticking on a two-month period of public comment before the levies are imposed. Trump has said he may ultimately target more than $500 billion worth of Chinese goods – roughly the total amount of U.S. imports from China last year.
To view a graphic on Trade tensions in China’s markets, click: reut.rs/2L7D8Ls
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