By Chris Becker
Its a hard no from risk markets on the White House’s attempt to paper over the huge risks they’ve engendered with Trumps trade war. Markets are now in correction mode across the board with US bourses having their worst session in nearly two years while European stocks all wiped off 2% or more. The USD has fully reversed in kind, with Euro, Yen and Pound Sterling shooting out of the gates in response to some backpedalling by Trump’s trade advisors.
Recapping stocks in Asia yesterday first where the Shanghai Composite has broken again, selling off swiftly into the close, down over 1% to 2859 points. Its pretty much over here unless Chinese authorities step in swiftly to shore up the selling, with support at 3000 points now firm resistance with my target below at 2300:
