US hikes tariffs to 25% from 10% on $200B Chines goods | IFCM
IFC Markets Online CFD Broker

US hikes tariffs to 25% from 10% on $200B Chines goods - 10.5.2019

US stocks fall fourth straight session

US stock market extended losses on Thursday ahead of tariff hike to 25% from 10% on $200 billion Chines goods which came into effect today. The S&P 500 slid 0.3% to 2870.72. The Dow Jones industrial average fell 0.5% to 25828.36. Nasdaq composite index lost 0.4% to 7910.59. The dollar resumed weakening as data showed US wholesale prices rose a below expected 0.2% in April, and trade deficit widened in March. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slipped 0.2% to 97.417 and is lower currently. Futures on US stock indexes point to lower openings today.

CAC 40 loss leader among European indexes

European stocks pullback resumed on Thursday. GBP/USD joined EUR/USD’s accelerated climb. Euro is higher currently while Pound is down against the dollar. The Stoxx Europe 600 index fell 1.6% led by auto shares. Germany’s DAX 30 dropped 1.7% to 11973.92. France’s CAC 40 tumbled 1.9% and UK’s FTSE 100 lost 0.9% to 7207.41.

Shanghai Composite leads Asian indexes rebound

Asian stock indices are mixed after US tariff hike on $200 billion of Chinese goods took effect today. Nikkei lost 0.3% to 21344.92 despite resumed yen slide against the dollar. Chinese shares are rebounding after news China current account surplus reached $58.6 billion while Bejing promised to retaliate: the Shanghai Composite Index is up 3.1% and Hong Kong’s Hang Seng Index is 0.9% higher. Australia’s All Ordinaries Index extended gains 0.3% despite Australian dollar resumed climb against the greenback.

HK50 falls below MA(50)  05/10/2019 Market Overview IFC Markets chart

Brent futures prices are recovering today. Prices fell yesterday on rising US-China trade dispute concerns: July Brent crude added 0.03% to $70.39 a barrel on Thursday.

IFCM Trading Academy - New era in Forex education
Pass Your Course:
  • Get Certificate
trading academy

See Also

image
Follow the Market with Our Live Tools and Calendars
Close support
Call to Skype Call to WhatsApp Call to telegram Call Back Call to messenger