World stocks stuck at three-week low as emerging markets hit a 15-month low
Donald Trump says he is taking a tough stance on China; the easing dollar does not relieve emerging markets' pain, with the Indian rupee at a record low
London — Fresh sparring between Washington and Beijing over trade kept world stocks close to three-week lows on Wednesday, while a slight dollar pullback gave little respite to emerging markets, with the Indian rupee plumbing new record lows. The months-long escalation in tensions between the world’s two biggest economies has shown no sign of letting up, as US President Donald Trump said on Tuesday that the US was taking a tough stance with China. That cemented expectations that fresh levies on Chinese exports will soon be announced. Trump’s comments came after China told the World Trade Organisation (WTO) it wanted to impose $7bn a year in sanctions on the US in retaliation for non-compliance with a ruling in an earlier trade dispute. Equity markets also faced pressure from US two-year bond yields which touched a decade peak on Tuesday, partly spurred by data that provided yet more evidence of the US economy’s strength. That data pushed Wall Street to a strong close, led by tech an...
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