New York — A deepening trade dispute between the US and China weighed on global stocks and bond yields on Thursday, prompting investors to shed risky assets in favour of safer ones amid uncertainty over future tariffs. The trade spat between the world’s top two economies intensified on Wednesday after US President Donald Trump raised pressure on China by proposing a higher 25% tariff on $200bn worth of Chinese imports. China, on Thursday, urged the US to "calm down", but market participants remained unnerved. "Markets are substantially weaker as investors are spooked by the latest development in the trade battle," said Andre Bakhos, MD at New Vines Capital in New Jersey. On Wall Street, the Dow Jones Industrial Average fell 171.11 points, or 0.68%, to 25,162.71; the S&P 500 lost 7.29 points, or 0.26%, to 2,806.07; and the Nasdaq Composite added 14.66 points, or 0.19%, to 7,721.94. MSCI’s gauge of stocks across the globe shed 0.75%, while the pan-European FTSEurofirst 300 index lost ...
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