Stocks hit by China-US tensions, jobs data, stalled stimulus talks | Malay Mail

US Secretary of State Mike Pompeo, left, answers questions from Hugh Hewitt, right, president and CEO of the Nixon Foundation, after Pompeo spoke at the Richard Nixon Presidential Library, July 23, 2020, in Yorba Linda, California. — Pool pic via Reuters

The standoff is the latest in a string of issues — including Hong Kong, coronavirus and Huawei — that have plunged relations between the superpowers into crisis. Markets were already in the red following a steep drop on Wall Street sparked by news that 1.4 million Americans applied for jobless benefits last week, the first week-on-week rise since the start of the crisis.

“But it also confirms what we all thought, is that more gloom is building on the horizon as the reintroduction of lockdown measures in the most populous US states is walking back the thesis that the economy was rebounding sharply.”The Dow and S&P 500 both lost more than one per cent and the Nasdaq, which has been hitting regular records of late, dropped more than two per cent.

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London stocks retreat on mixed earnings, Sino-US tensions | Malay MailJULY 24 — London-listed shares fell today as a batch of mixed quarterly earnings updates and souring US-China relations dulled optimism about a post-pandemic economic recovery, with education firm Pearson sliding after posting a first-half loss. Pearson tumbled 4.2 per cent to the bottom of the...
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Panic selling grips Chinese stocks after US tensions worsenChina's traders, company insiders and foreign investors are all fleeing the country’s stock market.
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