Wednesday 19 September 2018

Markets shrug off US-China trade war escalation

Markets rose on Tuesday.

The S&P 500 rose 0.5 percent, the STOXX Europe 600 rose 0.1 percent and the Nikkei 225 surged 1.4 percent.

Stocks rose despite an escalation in the US-China trade war as China announced tariffs of 5 to 10 percent on US$60 billion worth of US products after the US announced new tariffs on about US$200 billion in Chinese goods on Monday.

Robert Pavlik, chief investment strategist at SlateStone Wealth, said that “the U.S. economy is strong, earnings are healthy and confidence among consumers and investors remains high”. He is also hopeful that the trade dispute will be settled “amicably”.

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