World stocks fall and the dollar slips with investors flocking to bonds
Global stocks are subdued by trade fears as US and China continue its tariff-swapping rhetoric; the dollar falls on weak US economic data
New York — Stocks around the world fell on Thursday and the dollar slipped from a peak as investors flocked to bonds after weak economic data and on worries about a US-China trade war. Oil futures were lower before an oil cartel Opec meeting expected to increase the world’s supply of crude and after a report of a large stockpile draw in the US. The dollar fell from an 11-month high against a basket of major currencies as the Philadelphia Federal Reserve’s gauge of US Mid-Atlantic business activity fell to a near one-and-a-half-year low. US equity investors made cautious bets on Thursday after European vehicle makers’ statements about the negative impact of international trade tension. "We’re being held hostage to the trade tariff story. It’s clouding the view of economic growth," said Michael Antonelli, MD of institutional sales trading at Robert W Baird in Milwaukee. "It’s a flight to safety move. Yields are lower, and the leading sectors are staples, utilities and telecoms. Today ...
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