05 Aug Stock market sell-off deepens over Trump trade war worries | Business News
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Global stock markets are enduring a further day of pain following the escalation in the US-China trade war.
Following a 2.4% sell-off on Friday, which followed news that Donald Trump planned tariffs on a fresh batch of Chinese imports, the FTSE 100 shed a further 2.1% when trading resumed after the weekend to leave it at 7249.
Monday’s opening followed a brutal session in Asia that saw the Hang Seng in protest-hit Hong Kong shed 2.9% and Japan’s Nikkei lose 1.7% – also building on sharp losses from Friday.
The FTSE 100 remains 7% up in the year to date as the weaker pound boosts its dollar-earning constituents
Then, the DAX in Germany and French CAC shed 3% of their value. They were heading for losses of almost 2% on Monday.
US futures pointed to losses of more than 1.5% for each of the main indices while gold and cryptocurrencies were among the winners.
Markets…
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