Global shares likely to end the week in the red
Investors are bracing for a list of Chinese goods targeted in a first round of announced tariffs by the US
London — World shares fell and were set to end the week in the red on Friday while the dollar climbed to a seven-month high, as investors braced for a list of Chinese goods targeted in a first round of announced tariffs by the US. The MSCI all country world index, which tracks shares in 47 countries, was down 0.2% in morning trade in Europe and set for a weekly loss. US President Donald Trump has decided to impose "pretty significant" tariffs and will announce a list targeting $50bn of Chinese goods on Friday, and a second wave of products worth $100bn has been cued up. Beijing has warned that it was ready to respond. It is not clear when Trump will activate the measures, but rising Sino-US trade tensions will put more pressure on China’s economy, which is starting to show signs of cooling after a multiyear crackdown on riskier lending. Andrew Milligan, head of global strategy at Aberdeen Standard Investments, said that in the context of trade flows, the sum of goods targeted was sm...
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