By Chris Becker
Stocks retreated across both sides of the Atlantic last night as concern about trade between major global partners – EU and the UK, China and America – came to the forefront again, amid growing political risk. The Mueller probe was the catalyst for US stocks to fall with only tech stocks putting on any gains. Mario Draghi’s suggestion of an increase in inflation due to Brexit led the sale of sovereign bonds on the continent. Oil prices spiked again with Brent crude now above $80USD per barrel.
Recapping Asia’s session yesterday most of the region having a long weekend, including the Shanghai Composite which was closed for a holiday. It’s unlikely that last weeks bounce will be sustained here was momentum remains negative and the downtrend remains intact:
