Concern that China will be left behind brings markets to a grinding halt
London — Stock market gains came to a grinding halt on Thursday, held back by concern that China will be left behind as the US nears trade agreements with other North American countries and Europe. Stock markets and major government bond yields rose in recent weeks on the hope that a global trade war could be averted, particularly with the leaders of the US and Canada optimistic they could reach a new North American Free Trade Agreement (Nafta) by Friday. But with tariffs beginning to hurt the Chinese economy, Asian stocks lost some of their gains and European shares followed suit on Thursday on concerns over trade relations between the world’s two largest economies. Craig Erlam, a senior market analyst at forex broker Oanda, said there is a sense of urgency on Nafta talks as the countries try to complete the deal before a new Mexican government takes control, and ahead of a midterm vote in the US. "It doesn’t mean the US will look for a quick solution with China," he said. "There’s...
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