Stocks deepen losses as U.S. puts yuan in trade war crosshairs

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Global stocks extended their already substantial losses and the offshore yuan hi...

“Following the latest development in the U.S.-China trade war, all the economic views and moves in the currency and equity markets are driven by a ‘risk off’ mentality which in turn is boosting bonds,” said Kota Hirayama, senior emerging markets economist at SMBC Nikko Securities.

“The fact that U.S. yields are falling sharply even though Federal Reserve Chairman Jerome Powell did not signal further easing explains it all.”S&P 500 futures ESc1 fell 1.3% 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 .MIWD00000PUS, which tracks shares in 47 countries, extended last week’s slide and has slumped 2.5% to a two-month low on Monday., a fresh record low since international trading on the Chinese trade began in 2010. The yen, a perceived safe-haven in times of market turmoil and political tensions, was up 0.1% at 105.850 per dollar after touching a seven-month high of 105.520Investor demand for other safe-havens such government bonds also remained high as risk aversion gathered momentum.

The 10-year U.S. Treasury yield US10YT=RR extended sharp falls overnight and declined to 1.672%, its lowest since October 2016.

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these nations are soon to get a gut full of trump's bullying, and same from state dept. and justice dept.

Where’s the corrupt federalreserve How about stop making payments to the shareholders so they actually work for us! Make them get paid on how well the markets going! realDonaldTrump POTUS stevenmnuchin1

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