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Friday, 13 July 2018

Stocks, oil prices slide on trade war worries

Stocks, oil prices slide on trade war worriesBy Hilary Russ NEW YORK (Reuters) - Concerns about an escalating U.S.-China trade war made markets topsy-turvy on Wednesday, with U.S. stocks breaking a four-session winning streak and Brent crude prices seeing their biggest one-day drop in two years. Metal prices also slumped after U.S. President Donald Trump's threat overnight of 10 percent tariffs on another $200 billion of Chinese goods dampened hopes that Washington will eventually step back from the escalating row. Trump has said he may ultimately target more than $500 billion worth of Chinese goods - roughly the total amount of U.S. imports from China last year.




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