New York — Stocks tumbled in many major markets around the world on Tuesday, while emerging-market currencies fell and the dollar rose as investors looked for safety as they braced for escalation in the trade conflict between the US and China. Oil prices rose as Gulf of Mexico rigs were evacuated in preparation for a hurricane. Emerging-market stocks and currencies were under added pressure on concerns about inflation in Turkey, and after data showed SA had slumped into recession in the second quarter. US treasury yields rose as investors prepared for heavy corporate debt supply, and as falling Italian debt yields reduced safety demand for US government debt. The public comment period on a US proposal for new tariffs on Chinese goods is set to end on Thursday. US President Donald Trump can then follow through on plans to impose levies on $200bn more of Chinese imports. US-Canada trade talks ended on Friday with no deal to revamp the North American Free Trade Agreement (Nafta) after ...
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