US-China Trade Scandal Still Mutes Markets
US stock market sentiment is rather disappointing due to potential trade war between the US and China. DOW, S&P 500 and NASDAQ are altogether weak. Things aren’t better in the tech sector, particularly in Amazon after Donald Trump’s attacks against company’s CEO Jeff Bezos. US 10-year Treasuries also saw some drops. This week marks some key employment data from the US, including non-farm payrolls.
Right now, the US and China are negotiating the situation. This week, the President is expected to present the list of goods from the Section 301. As we may recall, yesterday China imposed 25% tariffs on 128 US products. Donald Trump, in his turn, is planning to hit China with $60 billion tariffs, which would extend current sell-off in stocks.