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19 June 2018
 |
| South korea financial markets (The Total Investment & Insurance
Solutions) |
Global stock markets fell Tuesday after U.S. President Donald Trump
escalated a dispute with China over technology policy by threatening a tariff
hike on an additional $200 billion of Chinese goods.
KEEPING SCORE: Germany's DAX was down a sharp 1.3 percent to 12,673 and
France's CAC 40 fell 1.1 percent to 5,394. London's FTSE 100 lost 0.4 percent
to 7,598. Wall Street looked poised for heavy losses, with the future for the
Dow Jones industrial average off 1.3 percent and that for the Standard &
Poor's 500 index down 1.1 percent. The
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ASIA'S DAY: The losses were even heavier in Asia, where the Shanghai
Composite Index fell 3.8 percent to 2,907.82 and Hong Kong's Hang Seng lost 2.8
percent to 29,468.15. Tokyo's Nikkei 225 retreated 1.8 percent to 22,278.48 and
Seoul's Kospi gave up 1.5 percent to 2,340.11. India's Sensex shed 0.6 percent
to 35,331.28 and Sydney's S&P-ASX 200 declined 0.6 percent to 6,102.10.
TRADE TENSIONS: Trump directed the U.S. Trade Representative to prepare
new tariffs on $200 billion in Chinese imports, stepping up a dispute companies
and investors worry could drag down global trade and economic growth. Trump
accused Beijing of being unwilling to resolve the dispute over complaints it
steals or pressures foreign companies to hand over technology. China's Commerce
Ministry criticized the White House action as blackmail and said Beijing was
ready to retaliate. The Total
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ANALYST'S TAKE: "President Donald Trump's unwillingness to back
down became apparent this morning, once again sinking markets," Jingyi Pan
of IG said in a report. Pan said market attention turned to China for
"signs of further retaliation." The Total Investment & Insurance Solutions
ENERGY: Benchmark U.S. crude lost 88 cents to $64.97 per barrel in
electronic trading on the New York Mercantile Exchange. The contract rose 79
cents on Monday to $65.85. Brent crude, used to price international oils, fell
47 cents to $74.87 per barrel in London. The contract rose $1.90 the previous
session to $75.34. The Total Investment
& Insurance Solutions
CURRENCY: The dollar declined to 109.75 yen from Monday's 110.54 yen.
The euro edged down to $1.1552 from $1.1623.The Total Investment & Insurance Solutions
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