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Investors seek safety on threat of wider U.S.-China spat


Added 05-22-19 04:03:01pm EST - “Global equity markets slid on Wednesday as investors sought safety in bonds, the...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Investors seek safety on threat of wider U.S.-China spat”. Below is an excerpt from the article.

NEW YORK (Reuters) - Global equity markets slid on Wednesday as investors sought safety in bonds, the Japanese yen and Swiss franc amid renewed worries over the U.S.-China trade standoff after reports the United States has another Chinese tech firm in its sights.

Relief over Washington’s temporary relaxation of curbs against China’s Huawei Technologies Co Ltd faded after reports that the White House is considering further sanctions on Chinese video surveillance firm Hikvision.

The yen and Swiss franc gained against the dollar and the price of the 10-year U.S. Treasury note rose, but the decline in U.S. and European equity markets was relatively subdued after recent sell-offs.

“The market is still expecting a resolution or at least a modification of some of the worrying aspects out there about the trade relationship,” said John Vail, chief global strategist at Nikko Asset Management in New York.

“Clearly the situation is more fraught than it has been in the past,” Vail said. “But for the time being we’re still positive on equity markets globally.”

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