Asian stocks tank on nearing tariff threat, drag down Europe
LONDON - World shares tumbled for a fourth day running on Thursday after a warning from U.S. President Donald Trump that a long-worked-on trade deal with China was in serious danger.
Europe’s main stock markets sank almost immediately after a torrid day for Asia had battered 1.8 percent off China and more than 3 percent off South Korea, which is often seen as the bellwether for how this trade war hits home. “Doubt that this tariff increase can be avoided is growing,” he added as Goldman Sachs also put the chance of a hike at 60 percent.
“I would suspect the U.S. will just hand China an ultimatum. No wonder the U.S. yield curve is almost inverting again,” he said. The benchmark 10-year Treasury yield stood at 2.4423 percent in Europe, having touched its lowest level in five weeks of 2.426 percent on Wednesday.
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