World markets calm and edging higher after US confirms tariffs on China
London — The imposition of tariffs by the US and China on billions of dollars of trade was absorbed calmly by markets on Friday with stocks edging higher and the euro climbing to a three-week peak, but concerns about the conflict escalating capped gains. Chinese shares led a recovery by Asian markets, partly helped by the perception that the tariff measures were already priced in, though worries about what lies ahead for global markets boosted appetite for perceived safe-haven assets such as government debt and the Japanese yen. "Some of it is priced in, but then this is an ongoing story and what can definitively be said is that we are entering a period of much greater uncertainty than before," said Neil Mellor, a senior currency strategist at BNY Mellon in London. World stocks rose 0.2% to their highest level in a week while Asian stocks climbed nearly 0.5% led by a rebound in Chinese shares. US tariffs on more than 800 goods from China worth $34bn took effect at 4.01am GMT, while ...
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