FILE PHOTO: Traders work on the floor at the New York Stock Exchange in New York, U.S., May 7, 2019. REUTERS/Brendan McDermid
U.S. President Donald Trump’s tweets on Sunday night, threatening to raise tariffs on Chinese imports, upended the previously calm market and wiped roughly $2 trillion from global equities this week. The cash leaving stocks in the week to May 8 was the third biggest outflow so far this year, the bank said, and came as Trump threatened further import tariffs on Chinese goods, ratchetting up the prolonged trade spat between the world’s two largest economies.
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