Still, selling pressure was mild compared with the last few sessions, when trade tensions intensified by the day.S&P e-mini futures ESc1 fell 0.5%. Wall Street had gained overnight and MSCI’s broad gauge of stocks across the world rose for the first day in seven sessions.
U.S. President Donald Trump dismissed fears of a protracted trade war on Tuesday despite a warning from Beijing that labeling it a currency manipulator would have severe consequences for the global financial order. Washington announced that move on Monday hours after the yuan tumbled. Many investors believe Trump cannot afford prolonged instability in financial markets since his reputation was staked so closely on economic growth and the success of the U.S. stock market.was trading at 7.0812 per dollar, off a record low of 7.1382 on Tuesday but still down 0.39% on the day.For Beijing, further yuan weakness could “hurt as much as it helps”, said Stefan Hofer, chief investment strategist at LGT Bank Asia in Hong Kong.
Or could it be the terror being waged in HK by the PRC 🤔