Reuters Insider - World stocks slip as trade, emerging market fears bite

By Kitco News / September 03, 2018 / www.kitco.com / Article Link


Click the following link to watch video: Source: Reuters InsiderDescription: Global stock markets fell for a third straight day on Monday,hurt by worries over the escalation of trade disputes between world powers anda deepening sell-off across emerging market currencies. As Laura Frykbergreports, U.S. markets were closed for the Labor Day holiday.Short Link: Video Transcript:If traders had hoped a new week would bring new sentiment to markets, theywere sadly mistaken. Global stocks fell for a third straight day, with theEuropean shares largely flat or in the red.The DAX is nervous.Quite a few traders expected tumultuous autumn- Trump's trade war, thecurrency crisis in emerging markets, the EU's dirty divorce from the British,and Italy's excessive debt.Those fears weighed on investors' mindsin other parts of the world too. Asia's MSCI's broadest index of shares andTokyo's blue chip Nikkei shed about 0.7% each in early trade, while theeconomic outlook in the region also bear some bad news with a drop in Chinesemanufacturing activity in August.I think we're seeing broaderworries about slowdowns perhaps in Europe, certainly in Asia as well withthose Chinese manufacturing numbers slowing not exactly helping sentiment. SoI think that's the broader worry that perhaps trade wars are feeding offsomething that's developing below the surface.Weakness in Chinacould impact other emerging markets that rely on them, and they're alreadyhurting. Turkey's Lira led Monday's currency losses. The Indonesian Rupiah8fell to its lowest level in 20 years. Even a developed market didn't farewell. Sterling a big underperformer, following skeptical comments by the EUover Britain's post-Brexit trade proposals. Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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