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China's response to Trump is causing chaos in world markets today

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China's response to Trump is causing chaos in world markets today

Post by rocky on Tue 03 Apr 2018, 3:55 am

China's response to Trump is causing chaos in world markets today





2018/04/03 00:08

( From this day to the news of Iraq ) - From - Mohammed Suleiman:

Direct: a bomb suddenly thrown by China on world markets in the first quarter of the second quarter left behind many victims, to declare the approach of the trade war from ignition.

China has decided to impose customs duties on 128 US goods worth $ 3 billion in a resolution that comes in response to a similar move to the United States last month, the finance minister said.

China's sudden decision - which came after calm and talks between the two sides last week - caused sharp oil and equity losses, while providing significant support for safe havens, most notably gold and silver.

China responds and markets suffer

China has decided to impose new tariffs on imports of US goods starting Monday, a move that threatens further trade between the two sides.

Last month, US President Donald Trump signed a resolution to increase tariffs on Chinese goods worth 50 billion dollars, a move aimed at reducing his country's huge trade deficit with Beijing.

But last week saw reassuring statements from both sides that ongoing negotiations could prevent the implementation of Trump's decision, amid reports on an agreement on a number of items that would reduce the US trade deficit.

China's response came to an end to hopes that investors are starting to recover, as global markets react strongly to Beijing's decision.

Japanese stocks ended relatively flat today, after the Nikkei shed 0.3% to close at 21,388 points, while the official holiday of European markets saved the continent's stock markets from falling.

On the US side, Wall Street collapsed sharply during today's trading, with the Dow Jones losing more than 700 pips in the session, before ending the session with a 458 point drop amid a volatile session.

The "fear index" of US stocks rose by 24% during trading, after sharp fluctuations and noticeable losses in the market.

China and other things

China was not the only one responsible for the losses of global markets and stocks today, as weak economic data in the United States and negative news on a number of leading stocks contributed to this sharp decline.

US Supply Management Institute data showed US industrial activity fell in March, while construction spending rose less-than-expected.

On the corporate side, technology shares suffered heavy losses as the Tesla and Amazon crises continued, as well as reports of Apple's possible release of Intel chips.

Tesla fell sharply during the day as investigations into the incident, which killed one person in the United States, continued, as did the company's rating on the back of the production crisis.

Amazon shares also suffered a strong loss today, continuing the recent decline due to a continuing attack by the US President on the company, because of what he considered "the company to pay less taxes supposedly and damage to the economy."

Intel did not give up on the negative news, after a report pointed to Apple's move to rely on its own chips and to sack Intel, which supplies it with products that are integrated into the manufacture of Mac computers.

Oil falls apart and gold welcomes

While oil has suffered sharp price losses due to trade war fears that threaten the decline in crude demand, gold has welcomed these concerns with the fact that it is a safe haven for investors in times of crisis.

US crude futures for May delivery fell 3% to $ 63.01 a barrel.

The decline in geopolitical fears in the Middle East and Trump's threats to break the Iranian nuclear deal have also contributed to oil price losses.

While the ounce of gold rose 1.4% to $ 1345.80 an ounce, to earn $ 18.50 during trading.

After a notable loss in the US dollar in the first half of the session, it recovered relative to settle at $ 90.045 by 7:25 pm GMT.

Electronic currencies also recovered a fraction of their quarterly losses of nearly $ 350 billion, so that the "Petcquin" rises to the highest level of $ 7,000.


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