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Stocks under pressure as Trump vows to end violent protests

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Asian stocks were set to come under pressure on Tuesday following a dip in Wall Street futures as U.S. President Donald Trump vowed to use force ...

Asian stocks were set to come under pressure on Tuesday following a dip in Wall Street futures as U.S. President Donald Trump vowed to use force to end violent protests in American cities, souring a previously upbeat market mood.

As Trump spoke in the Rose Garden of the White House on Monday, live television images showed police firing tear gas to dispel demonstrators in Lafayette Park, across the street. The dollar index fell 0.4per cent, as risk appetite had increased on optimism that the worst of the global economic downturn caused by the coronavirus may be in the past.

The protests were largely peaceful on Sunday but turned violent in the evening. On Monday U.S. President Donald Trump urged state governors to crack down on protests over racial inequality that have engulfed the nation's major cities, as officials extended curfews to prevent a seventh night of looting and vandalism.

Oil futures steadied on Monday despite U.S.-China trade tensions with Brent up 1.3per cent to settle at US$38.32 a barrel and U.S. crude slipping 5 cents to US$35.44 a barrel.

 

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