European shares fell on Friday after U.S. President Donald Trump furiously reacted to China’s latest imposition of tariffs on certain U.S. goods, while a lack of direction in the U.S. central bank’s rate outlook somewhat frustrated investors. In a see-saw session, stocks ended lower. The Stoxx Europe 600 index finished the day in the red with a loss of 0.78% to 371.36. The German DAX declined 1.15% to 11611.51, the French CAC 40 fell 1.14% to 5326.87 and the U.K. FTSE 100 dropped 0.47% to 7094.98.
U.S. stock indexes slumped more than 700 points during Friday after President Donald Trump told U.S. companies they should look for ways to close their China operations, following Beijing’s announcement that it would impose retaliatory tariffs on U.S. goods. Early in the session, major indexes flipped between modest gains and losses after Federal Reserve Chairman Jerome Powell left the door open for another interest rate cut in September in a widely anticipated speech in Jackson Hole, Wyoming. he Dow Jones Industrial Average closed with a loss of 623.34 points, or 2.37%, at 25,628.90, while the S&P 500 index dropped 75.84 points, or 2.59%, to finish at 2,847.11. The Nasdaq Composite Index shed 239.62 points to end at 7,751.77, a loss of 3.00%.
China said on Friday it would impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global oil demand. U.S. crude futures closed $1.18 or.13% to $54.17 a barrel. Brent crude futures ended 58 cents, or 0.97%, to $59.34 a barrel.
Stocks, government bond yields and commodities fell in a wild session on Friday while safe havens rose after U.S. President Donald Trump threatened to further escalate his trade war with China “this afternoon,” following a new round of retaliatory tariffs from Beijing.
U.S. President Donald Trump on Friday lashed back at a new round of Chinese tariffs by heaping an additional 5% duty on some $550 billion in targeted Chinese goods in the latest tit-for-tat trade war escalation by the world's two largest economies.
U.S. stock futures fell sharply on Sunday night at 08.09 pm ET, following the latest escalation in the U.S.-China trade war by President Donald Trump. Dow Jones Industria; Average futures traded55.00points lower, indicating a drop of 200.90 points at Monday’s open. S&P 500 and Nasdaq futures pointed to drops of 29.00 and 85.25 points respectively.
Asian shares are a sea of red on today morning as the latest salvo in the Sino-U.S. trade war shook confidence in the world economy and sent investors steaming to the safe harbours of sovereign bonds, gold and the Japanese yen. The Shanghai Composite is off 1.21% while the Hang Seng is down 2.69%. The Nikkei 225 is off 2.17%. The Kospi is down 1.53%. The ASX 200 is down 1.47%.
Dow Jones Industrial Average futures initially fell more than 300 points, or more than 1%, but recovered somewhat as the trading session progressed and were last down about 120 points or 0.67%. S&P 500 futures and Nasdaq Composite futures also initially dropped by more than 1% each, but narrowed losses as the trading day progressed at 16.85 points or0.59% and 47.25 points or 0.63% respectively, at 11.05 pm Sunday
SGX NiftymFutures in Singapore Exchange is trading with a gain of 75.50 points or 0.69% at 10,905.
Trends on SGX Nifty In Singapore Exchange indicate a positive opening forour Stock Matkets. The SGX Nifty is trading a with a gain of or 77.00 points or 0.71% at 10.906.50. While entire global markets are in red.
Technology stocks pushed European equities to a one-week low on today early morning as investors fled from riskier assets after another exchange of blows between the United States and China over trade at the end of last week. Hwever ecovered from the lows and are trading posotive as French and German shares show gains. The CAC 40 is up 0.55% while the DAX is up 0.22%. The British markets closed on account bank holiday.Teh Pan European STOXX 600 IS OFF 0.04%.