By Chris Becker
Risk markets have shown their hand with the “Sell in May” popular crowd working their magic on Wall Street overnight as the US/China trade war heats up over Huawei again. Stock markets fell between 1-2% on both sides of the Atlantic, while oil prices cratered over 5% and currency markets finally found some volatility, this time over the ECB minutes and poor PMI prints.
Yesterday saw Asian stock markets fall across the board with the Shanghai Composite falling by more than 1.3% to retrace straight back below 2900 points, closing at 2852 points, while the Hang Seng Index did about the same, off by 1.6% to 27267 points both signalling a clear breakdown here on the daily chart as this correction continues:
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