With the only trade war update being a dispatch from China’s Ministry of Commerce warning to watch its website ‘for retaliation detail’ in the event that the US does go ahead with the tariff hikes on Friday, the markets showed no signs of substantially reversing their early losses.
The FTSE was the only index to make a proper go at easing its initial decline, and even then that only meant that the index was down 0.3% instead of the half a percent slide it saw at the open. This as a relatively quiet sterling dipped 0.1% against both the dollar and the euro, drifting under $1.299 and €1.1605 respectively.
The DAX and CAC remained at a pace with each other, both indices dropping just shy of 1%. This left the German bourse the wrong side of 12100, with its French counterpart loitering at 5350.
The Dow Jones, meanwhile, is facing a 120 point plunge after the bell, one that’d see it open under 25850 for the first time since the end of March. As the US session gets underway, more details may leak out about the day’s trade talks; that, or the markets will be gripped by uncertainty until 12.01am on Friday morning...
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