World stocks down for fourth day as emerging markets and equities reel
The dollar is near two-week highs amid an emerging-market sell-off; US-Canada trade talks are to resume as the deadline looms for more China tariffs
London — A looming deadline in the US-China trade conflict kept the dollar near two-week highs on Wednesday, inflicting fresh losses on emerging markets and sending world stocks lower for the fourth day in a row. A public comment period on the possibility of fresh US tariffs on another $200bn worth of Chinese goods ends on Thursday, with expectations that the additional levies will be imposed by US President Donald Trump. The US and Canada will also resume discussions on Wednesday on revamping the North American Free Trade Agreement (Nafta). Ottawa is not expected to back down on key issues despite Trump’s threats to retaliate. The dollar is benefiting from these uncertainties, but on Tuesday it also drew strength from upbeat US indicators supporting the case for further interest rate hikes by the Federal Reserve — data showed US manufacturing activity accelerating to more than a 14-year high in August. Measured against a basket of currencies, the dollar edged 0.1% higher and stands...
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