{"id":32706,"date":"2018-03-23T06:31:46","date_gmt":"2018-03-23T11:31:46","guid":{"rendered":"http:\/\/olduvai.ca\/?p=32706"},"modified":"2018-03-23T06:32:42","modified_gmt":"2018-03-23T11:32:42","slug":"global-stocks-clobbered-as-trade-war-breaks-out-amid-fears-of-political-instability","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=32706","title":{"rendered":"Global Stocks “Clobbered” As Trade War Breaks Out Amid Fears Of Political Instability"},"content":{"rendered":"
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Global Stocks “Clobbered” As Trade War Breaks Out Amid Fears Of Political Instability<\/a><\/span><\/h3>\n<\/div>\n
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\u201cThe equity markets are getting clobbered, which is not that surprising with fears of a trade war breaking out\u201d\u00a0 <\/strong>– Paul Fage, TD Securities <\/em><\/p><\/blockquote>\n

Global equities are melting as they take the full brunt of market worries of a rising trade war after China announced it plans $3BN in tariffs on US imports in retaliation to the $50BN in US sanctions, while the latest personnel turnover in the White House (Dowd, McMaster) add to fears of rising political uncertainty.<\/p>\n

World stocks are down 3.4% since Monday, are on course for their worst week since early February, when a spike in volatility sent markets into a tailspin.<\/p>\n

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S&P futures are trading in the red, down 9 ticks as VIX make a trip back to the 25 handle.<\/p>\n

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Trade Wars<\/strong><\/p>\n

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  • Overnight, China announced it plans tariffs on USD 3bln of US imports, in which it plans 15% tariffs on US steel pipes, wine and fruits, while it also plans tariffs of 25% on US pork and pork products. Furthermore, there were also comments from Mofcom that China doesn’t want a trade war but is not afraid of one, while the ministry added it hopes US will be prudent in its decisions and pulls back from the ‘brink’.<\/li>\n
  • Russia’s Ministry of Trade and Industry said they are preparing restrictions on US imports as a response to US aluminium and steel tariffs.<\/li>\n
  • EU\u2019s Tusk states that EU leaders have called for a permanent exemption from US tariffs.<\/li>\n
  • The US launched a WTO complaint over China\u2019s \u201cdiscriminatory technology licensing requirements\u201d.<\/li>\n
  • Source reports indicate that China intervened overnight to support its stock market after tariff announcements triggered losses.<\/li>\n<\/ul>\n

    Overnight, China announced retaliation against President Donald Trump\u2019s tariffs and there was further turnover in the U.S. administration, compounding a selloff that started in technology shares and escalated when the White House unveiled its protectionist agenda on Thursday.<\/p>\n

    …click on the above link to read the rest of the article…<\/p>\n

     <\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Global Stocks “Clobbered” As Trade War Breaks Out Amid Fears Of Political Instability \u201cThe equity markets are getting clobbered, which is not that surprising with fears of a trade war breaking out\u201d\u00a0 – Paul Fage, TD Securities Global equities are melting as they take the full brunt of market worries of a rising trade war […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,7844,1849,9937,827,4318],"class_list":["post-32706","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-donald-trump","tag-financial-markets","tag-tariffs","tag-united-states","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/32706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32706"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/32706\/revisions"}],"predecessor-version":[{"id":32708,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/32706\/revisions\/32708"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}