Stocks got pounded overseas on the latest trade war fears. The Asia Dow fell a big 1.49% with losses spread across all markets. Europe fared little better, with the STOXX 600 losing 1.09%, and again everybody in the red. The Americas saw most exchanges trading lower, but less so than elsewhere, as US shares were mixed most of the day – except the hard-pounded NASDAQ.
With Facebook and Twitter executives being questioned by Congress, and the next round of tariffs on Chinese goods set to fall on the heels of the latest trade deficit news, stocks were on the defensive. With the US trade deficit hitting a five-month high and Chinese imports playing a big role in that deficit, the Trump administration is expected to stand tall on its tough tariffs stand.
Fixed income assets rallied back from earlier losses, bringing yields on the 10-year note back from the 2.92% range to ... Log in or subscribe to continue reading.