World stocks fall as US-China tensions rise over Hong Kong
China dropping its annual growth target added to concern about the fallout from the Covid-19 pandemic, boosting demand for safe-haven assets
22 May 2020 - 11:35
London — World stocks took a hit on Friday as China moved to impose a new security law on Hong Kong after last year’s pro-democracy unrest, further straining fast-deteriorating US-China ties.
These tensions, plus news that China has dropped its annual growth target for the first time, added to concern about the fallout from the Covid-19 pandemic, knocking oil prices down more than 5% and boosting demand for safe havens such as US government bonds...
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