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US-China currency fight; Market scare; Fed warning

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Today's top business headlines: - China responds to trade war escalation - China halts purchases of US agricultural products - Firearms stocks climb amid calls for stricter gun laws

London 1. Currency fight: A currency dispute between United States and China has brought the fight between the world's two largest economies to new extremes.

The Trump administration on Monday designated China a"currency manipulator" after Beijing let the yuan slide to the symbolically important level of 7-to-the-dollar for the first time in more than a decade."The move is another escalation in a deteriorating bilateral relationship that looks set to get even worse," said Julian Evans-Pritchard, senior China economist at Capital Economics.

Wednesday — Reserve Bank of India rate decision; US crude oil inventories; SoftBank , CVS , Lyft , Roku and Zillow earnings Thursday — China imports and exports; AMC Entertainment , Viacom , CBS , Activision Blizzard , Uber and Yelp earnings

 

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