World stocks fall and metals slump as US threatens yet more China tariffs
London — Stocks fell and metals prices slumped to their lowest in a year on Wednesday, as US threats of tariffs on an additional $200bn worth of Chinese goods pushed the world’s two biggest economies ever closer to a full-scale trade war. The detailing overnight of US President Donald Trump’s already-threatened 10% tariffs on the additional Chinese goods dampened hopes that Washington will eventually step back from the escalating row. The clock now starts ticking on a two-month period of public comment before the levies get imposed. Trump has said he may ultimately target more than $500bn worth of Chinese goods — roughly the total amount of US imports from China last year. Shanghai markets were hardest hit overnight, with stocks there down almost 2% and the yuan weakening towards last week’s 11-month lows, down 0.4% to 6.66 to the dollar. Hong Kong’s Hang Seng lost more than 1%, as did Japan’s Nikkei as the yen received something of a safety bid. Europe’s main bourses — also taken a...
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