Stocks Slump As US-China Tensions Heat Up

A woman walks past a screen showing information and the index of the Taipei Stock Exchange on July 24, 2020. Sam Yeh / AFPGlobal equities took a beating Friday as China-US tensions intensified, while stalled stimulus talks in Washington fuelled fears for the economy, traders said.

File photo: Traders work on the floor of the New York Stock Exchange on January 27, 2020 in New York City. Spencer Platt/Getty Images/AFPThe standoff is the latest in a string of issues — including Hong Kong, coronavirus and Huawei — that have plunged relations between the superpowers into crisis. Hopes that the data would spur US lawmakers to push on with fresh stimulus measures were undermined by the inability of Republicans and the White House to agree on a $1.0 trillion stimulus proposal.

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Equities market closes flat despite blue-chip stocks’ gainsYesterday, the local bourse closed flat as the NSE All-Share Index stood at 24,173.53 points despite gains in Eterna (+8.9 per cent), May and Baker (+7.9 per cent) and Neimeth (+7.1 per cent), thus…
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