News of ratcheting up the tariffs threat had a somewhat delayed impact, as Asian shares rallied to catch up with New York's rally from yesterday. But Europe got the message, as German automakers led prices down. The result was a 0.6% increase in the Asia Dow, but a 0.6% decline in the STOXX 600. Reverting back to its old familiar "up big one day, down big the next" routine, the Dow opened down a bit and then fell from there to trade 200-ish points lower for much of the session.
Crude oil, a big factor on the upside yesterday, retreated today to give back about 2/3 of the previous day's gains. Fixed income markets rallied somewhat, beneficiaries from the latest "risk-off" perceptions. More reports of a vibrant economy, in the form of strong consumer demand and fewer unemployment claims, failed to ignite inflation fears and push rates higher. Currencies were pretty ... Log in or subscribe to continue reading.
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