Global markets calm on softer tone over US-China trade war
Washington says it is open to trade talks but the market is still cautious with high demand for safe-haven gold and the yen
London — A cautious calm returned to stock markets on Wednesday as softer rhetoric from Washington on the US-China trade war soothed investors, though demand for safe-haven assets underscored lingering anxiety.
Europe’s Stoxx 600 climbed 0.7%, recovering from a three-day sell-off as investors fled after an escalation in the trade war. MSCI’s world equity index, which tracks shares in 47 countries, rose 0.2%. But gold, the yen and government debt remained in high demand as investors remain wary of riskier assets.