By Chris Becker
Another exciting week on risk markets after US stocks previously making a new record high, the US growing trade war with China hit a new low as the surplus hit a new high. Trump’s potential near doubling of tariffs has sent a shockwave through markets with most now in full correction mode. Tech stocks led the selloff as Apple warned of the fallout on its products, while Treasury yields and the USD spiked on Friday’s NFP job report.
Trading here in Asia on Monday morning is likely to be in the red zone as weekend developments need to catch up to Friday’s prices. The economic calendar is relatively quiet, as is usual post the NFP print.