Global stocks deepen losses as US brands China currency manipulator

TOKYO: Global stocks extended their already substantial losses and the offshore yuan hit an all-time low on Tuesday after Washington designated Beijing a currency manipulator in a rapid escalation of the U.S.-China trade war.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.75per cent to its lowest since January. S&P 500 futures fell 1.3per cent in early Asian trade. Wall Street's major indexes already posted their biggest percentage drop of the year on Monday on fears of escalation in the U.S.-China trade war.MSCI's All Country World Index , which tracks shares in 47 countries, extended last week's slide and has slumped 2.5per cent to a two-month low on Monday.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global stocks tumble on escalating US-China trade warNEW YORK: World stock markets plunged on Monday (Aug 5) as Beijing parried US President Donald Trump's latest tariff announcements by moving to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Fresh US-China trade turmoil wipes US$26b off Australian stocks[BENGALURU] Mining stocks led Australian shares to their worst session in over seven months on Monday, with investors slashing riskier positions as the growing trade war between the United States and China revived worries about weaker global growth. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »