Global Stocks Lower Ahead of Chinese Tariff Deadline

July 4, 2018 Share Print 0

World stocks treaded water on Wednesday amid growing anxiety ahead of Washington’s end of week deadline to impose tariffs on Chinese imports, while the yuan steadied after China’s central bank acted to calm investors.

The MSCI All-Country World index, which tracks shares in 47 countries, was lower by less than 0.1 percent on the day, recovering slightly from a 0.2 percent fall earlier.

Washington has said it would implement tariffs on $34 billion worth of Chinese imports on July 6, and Beijing has promised to retaliate in kind on the same day.

Concerns about the outbreak of a global trade war have, among other factors, prevented a sustained recovery in global stock markets since a violent sell-off in February.

vai Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.