Stocks Decline as Trump Reloads the Tariff Bazooka: Markets Wrap

2018/7/11 10:52:15

Stocks

  • Futures on the S&P 500 were down 0.8 percent as of 8:08 a.m. in London after dropping as much as 1.1 percent earlier.
  • The SToxx Europe 600 Index retreated 0.8 percent.
  • The U.K.’s FTSE 100 declined 0.9 percent.
  • Japan’s Topix index dropped 0.8 percent.
  • Hong Kong’s Hang Seng fell 1.6 percent and the Shanghai Composite lost 1.8 percent.
  • South Korea’s Kospi dropped 0.6 percent.

 


By Adam Haigh and Samuel Potter for Bloomberg Quint, 11 July 2018, 10:12 AM

 

 (Bloomberg) -- Stocks fell, the dollar gained and commodities slid with emerging-market assets after the U.S. fired a new shot in its brewing trade war with China.

S&P 500 futures slumped with the Stoxx Europe 600 Index and MSCI Asia Pacific Index following the Trump administration’s release of the biggest list yet of Chinese goods it may hit with tariff increases. The Asian nation vowed to retaliate, and shares in Shanghai led the retreat as the yuan weakened.

The potential escalation spurred advances in the dollar and Treasuries, while emerging-market stocks and currencies both declined. Metals bore the brunt of the reaction in commodities, with copper, nickel and zinc all sliding.

 

These are some events to look out for this week:

  • Earnings season gets into gear with JPMorgan Chase & Co. and Citigroup Inc. among the largest companies due to give results, as well as India’s Infosys Ltd.tly slower export growth, after early indicators pointed to softer overseas demand and weaker export orders, Bloomberg Economics said.

 

  • The most noteworthy U.S. data may be the June inflation report on Thursday, which consensus expects will show both headline and core price growth picking up. There’s another deluge of Treasury debt sales too, with a total $156 billion of notes and bills offered.
  • Chinese trade data due at the end of the week will probably show sligh

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https://www.bloombergquint.com/markets ... riff-bazooka-markets-wrap

 

 

 

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