JSE opens lower on renewed risk-off sentiment after Trump’s trade tweets
The JSE opened weaker on Wednesday on renewed global risk-off sentiment, following Tuesday’s recovery on signs that a trade war between China and the US had been averted.But this may have been premature. Despite China’s stating that it would cut the import tariff charged to car manufacturers to 15%, US President Donald Trump tweeted that he was not happy with the trade negotiations so far.He also said that there was a "substantial chance" that the summit with North Korea in June "would not work out"."Markets traded lower overnight as risk sentiment was dealt a blow by Trump’s tweets," FxPro analysts said.The Dow closed 0.72% lower while Asian markets were weaker on Wednesday. The Nikkei 225 lost 1.18% and the Hang Seng 1.52%.At the same time, Trump was weighing up measures to cut EU steel and aluminium exports to the US by about 10%, in a sign the bloc’s concessions to secure tariff exemptions were not meeting White House demands, EU officials familiar with the talks said.Dow Jones ...
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