Trade war fears are crushing stocks, and sell-off could keep going if there is no deal by Friday
- Stocks were slammed Tuesday amid worries the global economy and earnings would take a hit from a trade war between the U.S. and China.
- While many analysts still expect a deal, there are concerns that the Trump administration will unleash higher tariffs at the end of the week, hurting the global economy, aggravating tensions with China and extending the time frame for the talks.
- The stock market Tuesday took the announcement of tariffs as a sign of potentially serious problems in the trade negotiations, unlike Monday when it reacted to President Donald Trump’s tariff threats as simply a bargaining posture. Read More @ https://www.cnbc.com/2019/05/07/trade-war-fears-are-crushing-stocks-and-sell-off-could-keep-going-if-there-is-no-deal-by-friday.html
GOLD AND USD TECHNICAL CHARTS
China Is Losing Its Grip on Companies Due to Trump’s Trade War
While Chinese and American officials enter heated trade negotiations this week, companies that have built the technology industry’s global supply chain aren’t waiting to see how the talks turn out. In the latest example, Delta Electronics Inc. is joining a wave of key suppliers accelerating a shift of production away from China. Delta, which makes components to help clients like Microsoft Corp. and Huawei Technologies Co. manage power and cooling for datacenters to factories, is moving some production back to its home base of Taiwan and Thailand amid the threat of a trade war and U.S. security concerns. It’s also taking the unusual step of building three to four plants in India, responding to Prime Minister Narendra Modi’s Make-in-India program. Read More @ https://www.bloomberg.com//news/articles/2019-05-07/trump-versus-xi-battle-has-another-supplier-shifting-from-china?srnd=markets-vp
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