Asians stocks fall on US-China trade tensions, yen rises
Europe's main markets in London .FTSE , Paris .FCHE and Frankfurt .GDAXI were all down more than 0.5 percent, after being closed on Monday when the pace of selling had pushed US markets below pivotal technical levels [.N].
China bumped up tariffs by as much as 25 percent on 128 USA products, from frozen pork and wine to fruits and nuts, in response to US duties on imports of aluminum and steel.
China's action - the latest tit-for-tat over US President Donald Trump's duties on steel and aluminium - followed weeks of rhetoric that has raised fears of a trade war between the world's two biggest economies.
It was the first time the index closed below its 200-day moving average since June 2016 in the wake of Britain's decision to leave the European Union, known as Brexit.
Europe's stock markets slid Tuesday following a Wall Street slump driven by trade war fears and technology sector woes.
Markets in Seoul and Hong Kong were also weaker, with New Zealand the only regional exchange in the green.
Shares of Amazon, Microsoft, Intel and Facebook were the biggest drag on MSCI's all-country world stock index, which fell 1.23 percent. "A house catches on fire, it burns rather quickly and that is what is happening now", said Peter Cardillo, chief market economist at First Standard Financial in NY.
A quarterly business outlook survey by Japan's central bank shows corporate sentiment has worsened for the first time in two years.
"The importance of tariff announcements by both the USA and China lies in what they may portend for overall bilateral trade and investment relations between the two countries", said Atsi Sheth, an analyst for Moody's Investors Service.
Precipitation, chilly temps follow a cold Easter
Tuesday night , the low will fall into the mid- to upper teens and northwest winds will gust as high as 35-40 miles per hour . The next issue is in the mountains (central Cascades) where a Winter Weather Advisory is in effect until Monday morning.
Russia's Foreign Minister accuses West of 'children's games'
The counterclaims from Moscow came as the last Russian diplomats were set to leave the countries where they were posted. In Washington, officials dismissed the statement from Putin's top foreign policy aide, Yury Ushakov.
Stephen Hawking's funeral held in Cambridge, Eddie Redmayne gave reading from Ecclesiastes
Cally Hammond from Cambridge University , where Hawking was a fellow in his 52 years as a physicist, officiated the funeral. They said that 50 guests at the meal had "a little cheer in honour of Stephen Hawking " before they tucked into the meal.
Meanwhile, e-mini futures for the S&P 500 climbed 0.4% and Dow futures were also up 0.2%.
But it was tech stocks that led the declines, with the Nasdaq dropping 2.7 percent.
"What you're seeing in the market is a change in leadership", he said.
Asian stock markets ended mixed, as fears of a trade war between the United States and China loomed large.
The Trump administration will unveil by Friday a list of advanced technology Chinese imports targeted for US tariffs to punish Beijing over technology transfer policies.
"Only fools, or worse, are saying that our money-losing Post Office makes money with Amazon", Trump tweeted. The Shanghai Composite index shed 0.1 percent to 3,165.74.
The dollar index was still a shade softer against a basket of currencies. They had fallen more than 3.7 percent on Monday after news of rising Russian output and the escalating U.S. Brent crude, used to price worldwide oils, added 36 cents to $69.70 per barrel.
Benchmark US crude rose 24 cents to $65.18 a barrel.
USA drillers cut seven oil rigs in the week to March 29, bringing the total down to 797, the first decline in three weeks. Trump has also complained that the fees Amazon pays to the U.S. Postal Service to deliver merchandise the retailer sells are too low, costing the quasi-governmental agency hundreds of millions of dollars in annual revenue, although the Postal Service says its contract with Amazon is profitable. Wall Street futures pointed higher ESc1 , the dollar steadied against the yen after three days of decline [/FRX] and gold and government bonds were in reverse [GOL/][GVD/EUR].
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