Stocks decline as U.S.-China tensions resume

04.05.2020 - Kulakov Vladimir
Stocks decline as U.S.-China tensions resume

European stock markets and oil prices dropped on Monday as trade war fears re-ignited after a spat between U.S.’ and China’s top officials.

European shares were down 2.5%, while U.S. stock futures fell 1%.

MSCI’s broadest index of Asia-Pacific shares outside Japan lost 2.5%.

U.S. Secretary of State Mike Pompeo said that there was enough evidence that the new coronavirus strain originated from a laboratory in Wuhan.

An editorial in China’s Global Times called on the United States to present evidence for its claims.

Companies under the pan-European STOXX 600 are expected to decline by 40% in their second-quarter earnings.

Recent economic data showed a heavily affected global economy due to lockdowns.

U.S. manufacturing declined to an 11-year low as over 30 million Americans filed claims for unemployment.

Oil prices fell amid worries of a persisting oversupply despite easing lockdowns.

U.S. West Texas Intermediate crude futures dropped to $18.66 per barrel. Brent crude futures lost 1.7%, at $26 per barrel.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?