[NEW YORK] US stocks sank further on Thursday as bellicose trade rhetoric persisted between Washington and Beijing.
Meanwhile, the weakness in stocks drove a rally in bonds, pushing down yields and hitting stocks in the financial sector. In another area of friction, US Secretary of State Mike Pompeo in comments on CNBC reaffirmed Washington's hardline position on the blacklisted Chinese telecoms firm Huawei. He called the firm a national security threat and accused the company of lying about its ties to the government in Beijing.A rally in bonds saw yields on 10-year Treasurys briefly touch their lowest level since October 2017 at 2.2904 per cent, weighing on shares in the financial sector.
"These fresh indicators are the first sign we may be approaching an inflection point in American growth."
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