President Donald Trump smiles during a meeting with Slovak Prime Minister Peter Pellegrini in the Oval Office of the White House, Friday, May 3, 2019, in Washington. (AP Photo/Alex Brandon)

US futures and European stocks are slipping.
“Trump’s meddling is almost single-handedly driving the markets right now,”says Jasper Lawler of London Capital Group.
“The president’s almost haphazard approach, of sounding optimistic over trade talks before turning confrontational, is creating high levels of uncertainty and volatility,” he said.

European equities and US futures dipped on Thursday as anxious investors reacted to US President Donald Trump’s capricious trade rhetoric as well as disappointing economic data.

Traders remain uncertain of the potential for a US-China trade agreement, after Trump claimed the Asian nation “broke the deal” and hiked tariffs on $200 billion worth of Chinese imports last week, then downplayed the dispute as a “little squabble” and said a deal “could absolutely happen” after China retaliated with duties on $60 billion of US goods this week.

The president has also imposed sanctions on Chinese telecom titan Huawei, but signaled he might delay tariffs on automobiles for six months.

“Trump’s meddling is almost single-handedly driving the markets right now,” said Jasper Lawler, head of research at London Capital Group.

“The president’s almost haphazard approach, of sounding optimistic over trade talks before turning confrontational, is creating high levels of uncertainty and volatility.”

Market sentiment wasn’t helped by a …read more


Source:: Businessinsider – Finance

      

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