Global stocks extended already substantial losses Monday as
to an 11-year low, as Washington formally accused Beijing of manipulating its currency, the first designation of its kind since 1994., a blow to American farmers already stretched by the trade war. Markets worldwide have been in freefall since U.S. President Donald Trump on Thursday unexpectedly announced 10% tariffs on another $300 billion worth of Chinese goods, starting September 1.
Back in Europe, June factory orders and July construction PMI data for Germany is due Tuesday morning. Reuters reported on Monday that two of Germany's leading economists had urged the government to ditch its pledge to refrain from new debt, due to a combination of record-low borrowing costs and a slowing economy.
In corporate news, German postal giant Deutsche Post and Luxembourg-based serviced office provider IWG are set to report earnings Tuesday morning.
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European stocks seen sharply lower as trade tensions mountEuropean stocks were seen tumbling Monday morning as a rapid escalation of U.S.-China trade tensions continues to spook investors worldwide. Is Trump warning people about these tariffs so they can play the market? Then he rescinds his decision again and the Market swings the other way? Curious and Curiouser...
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It's not just the trade war – these global fears could put stocks through the wringerThe U.S.-China trade war is spooking Wall Street, but Phil Orlando of Federated Investors says that's not the only hurdle ahead. I’m just asking for one more week of wringer please What Global Fears? The EU still has its head in the sand. If they loosen Monetary Policy, the bogyman will stay the closet. Peace at any price, pays no dividend. Buy TVIX as a hedge on the down.....
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Stocks slide amid US-China trade war escalationWe're watching markets slide amid escalations in the the US-China trade war. The S&P 500 is having its worst day of the year and the Dow and Nasdaq are both down more than 3%. Watch live on Facebook: You watch, The Donald will tweet out that the US and China are nearing a deal so he will postpone the new tariffs he has threatened to impose on China. He may even lower some of those already in effect. That’s is first impact. The markets will stabilize once th companies announce they’re coming back home with lots of jobs for Americans
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