Stocks slipped on Monday as thousands of demonstrators forced Hong Kong’s main airport to cancel all flights in the latest escalation of protests within city.
The shutdown piles onto investors existing concerns over the global economy amid a deteriorating outlook for a trade deal between the US and China.
Shares of Cathay Pacific, Hong Kong’s dominant airline, plummeted as much as 4.9% to decade lows after China demanded that it prevent protesting employees from flying to the mainland.
The US budget deficit in 2019 has grown larger than the entire deficit for last year, according to the Treasury Department’s monthly report.
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Stocks fell on Monday as flaring political unrest in Hong Kong rocked markets already fragile from a deteriorating outlook for a US-China trade deal.
Hong Kong’s airport was forced to cancel more than 100 flights on Monday after thousands of demonstrators clogged departure and arrival halls preventing passengers from boarding any planes.
The demonstration follows weeks of protests throughout the city that were sparked by an extradition bill introduced earlier this year. Chinese authorities have warned that the unrest could send Hong Kong into a recession and said that …read more
Source:: Businessinsider – Finance