China and the United States stepped up "trade forces." On Friday, the market shuddered at the influx of new information: China announced a response to the tariff war, Jerome Powell didn’t say a single word, but hinted at the FRS's readiness to further cut rates, and Donald Trump did not slow down on Twitter, announcing a new raising duties on Chinese imports and expressing a lot of criticism of Powell. All these affairs led to the beginning of a strong downward movement (on Friday the indices fell 2.5%, this morning it was -0.6%). The Japanese price course has dropped to flash crash levels last December - an important psychological frontier. In general, the picture clearly takes on a menacinglook.Investors can only be reassured by China’s desire to sit at the negotiating table (as Trump writes) and prevent escalation before the fall. On this news, futures turned sharply at + 0.5%.
27 August 2019
China and the United States stepped up "trade forces."
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