Trade concerns dent global equities
World stocks fall as the trade dispute between the US and other major economies intensifies, while oil prices lose ground after exporters agree to increase production
London — World shares fell on Monday, dented by concern over a worsening trade dispute between the US and other major economies, while oil prices gave up some of the gains made after major exporters agreed a modest production increase. The Wall Street Journal said US President Donald Trump planned to bar many Chinese companies from investing in US technology firms and block additional technology exports to China. The report hit Asian stocks overnight and in London the pan-European Stoxx 600 index was down more than 0.5% in morning trade. S&P500 mini futures fell as much as 0.6% while MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.95% to six-and-a-half-month lows. Japan’s Nikkei lost 0.8%. Taking a particular hit on the trade tensions was the European car sector, falling 1.4% and set for its seventh consecutive day of losses after Trump said on Friday he aimed to hike tariffs on EU car imports by 20%. MSCI’s All-Country World index, which tracks shares in 47 countr...
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