By Chris Becker
Trump has put a fat orange cat amongst the pigeons with his out of the blue trade tariffs overnight overshadowing what looks like some resolution to the Italian political crisis. This broader trade war has upset all risk markets, and comes at a fraught time with the most important economic event on the calendar tonight – US unemployment.
Recapping stocks in Asia yesterday first where the Shanghai Composite rebounded strongly after previously going straight down to terminal support at 3000 points, closing up nearly 2% higher at 3095 points. There’s still daylight below 3000 points so any fallout from a broader trade war must be filled before hitting that level:
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