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Shares worldwide down after further US-China trade escalation

2019-08-05T13:58:07.591Z

Stock markets worldwide were considerably lower on Monday after the trade dispute between the United States and China escalated further.


Stock markets worldwide were considerably lower on Monday after the trade dispute between the United States and China escalated further.

The AEX index stands at around 3.30 pm Dutch time at a loss of 1.9 percent. The German DAX index and British FTSE 100 lost 1.7 percent and 2 percent respectively around that time. Earlier the Asian stock markets were also in the minus.

Equity markets are also falling in the United States. The S&P 500 started the day 2 percent lower. The Dow Jones index and technology exchange Nasdaq start 1.8 percent and 2.6 percent lower respectively.

Last week, US President Donald Trump unexpectedly announced the introduction of additional import tariffs of 10 percent on 300 billion dollars (270 billion euros) of Chinese goods. China and the United States were just discussing a new trade agreement.

With the new taxes, all Chinese goods that the US imports are taxed extra. The current rates would already have an impact on the American and Chinese economy. Investors are said to fear that the conflict will continue to get out of hand and cause more damage to the global economy.

Source: nunl

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