Global shares wobble as US-China trade war escalates
By ELAINE KURTENBACH Associated Press Business Writer BANGKOK AP Global shares wobbled Friday after the latest escalation in the China-U S pact war with Japan and particular European markets slipping while others stood firm The future for the S P advanced while that for the Dow Jones Industrial Average was up The deepening worries over President Donald Trump s arrangement war caused Tokyo s benchmark to initially fall more than It later regained particular ground closing lower at Related Articles Remember inhabitants phones The Masters still offers old-school devices as alternative to cellphones Publishers Clearing House known for its Prize Patrol sweepstakes files for bankruptcy New York jury awards billion to women who accused Bugsy writer James Toback of sexual abuse National intelligence head says MLK and RFK assassination records will soon be populace The wing tip of an American Airlines plane strikes another aircraft at a DC airport Then China communicated it was boosting its tariffs on U S exports to to match the level of U S tariffs not including an earlier imposed weeks ago The U S alternately raising abnormally high tariffs on China has become a numbers competition which has no practical economic significance and will become a joke in the history of the world financial sector a Finance Ministry spokesman revealed in a message announcing the new tariffs However if the US insists on continuing to substantially infringe on China s interests China will resolutely counter and fight to the end Early Friday the -year Treasury yield was at The markets swings have hit the bond field and Treasury yields have jumped as bond prices fell on heavy selling The bond industry has tended to limit economic policies that investors deem imprudent helping to topple the United Kingdom s Liz Truss in for example whose days made her Britain s shortest-serving prime minister In announcing a -day delay in implementing his higher tariffs against dozens of countries Trump mentioned that the bond industry was a bit queasy The -year Treasury yield shot up to nearly Wednesday morning from just at the end of last week It calmed somewhat following Trump s U-turn Wednesday on tariffs dropping all the way back to shortly after the release of a better-than-expected summary on inflation Thursday morning In early European trading Germany s DAX shed to while the CAC in Paris lost to Britain s FTSE gained as the regime broadcasted the commercial sector the world s sixth largest enjoyed a expansion spurt in February the month before U S President Donald Trump started to roll out tariffs on imported goods It expanded in February ahead of sphere expectations for a more modest increase of South Korea s Kospi fell to while in Australia the S P ASX shed to China markets rallied after Chinese President Xi Jinping met with Spanish Prime Minister Pedro S nchez and Beijing reported plans for Xi to visit Vietnam Malaysia and Cambodia China has been seeking to join forces with other countries in apparent hopes of forming a united front against Trump The world s second-largest market system is also ramping up its own countermeasures to Trump s tariffs Hong Kong s Hang Seng picked up to and the Shanghai Composite index climbed to Taiwan s Taiex gained as investors anticipated that orders for the island s high-tech products will surge as agreement between the U S and the Chinese mainland dwindles On Thursday the S P tumbled slicing into Wednesday s surge of following Trump s decision to pause several of his tariffs worldwide The Dow Jones Industrial Average dropped and the Nasdaq composite tumbled Investors are viewing Trump s decision to delay higher tariffs for preponderance countries for days as a ploy not a pivot Stephen Innes of SPI Asset Management mentioned in a commentary That s the sphere hitting the brakes hard The sugar high from Trump s tariff pause is fading fast he wrote Losses for U S stocks accelerated after the White House clarified that the United States will tax Chinese imports at not the rate that Trump had written about in his posting on Truth Social Wednesday once other previously reported tariffs were included The drop for the S P exceeded at one point In other dealings early Friday U S benchmark crude oil added cents to per barrel in electronic trading on the New York Stock Exchange Brent crude the international standard added cents to per barrel One dollar bought Japanese yen down from about yen a day earlier The euro rose to from Associated Press writer Jiang Junzhe contributed from Hong Kong
