Markets fall on worries US-China trade war can heat up 'at any time'

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Australian shares are expected to open lower, as investor sentiment on Wall Street continues to get buffeted by US-China trade tensions.

AUD: 70.11 US cents, 56.38 British pence, 62.43 euro cents, 72.65 Japanese yen, $NZ1.04Europe: FTSE 100 -0.6pc at 7,535, DAX -0.7pc at 12,341, CAC -0.8pc at 5,572, Euro Stoxx 50--0.6pc at 3,502

In local economic news, National Australia Bank will release its business confidence report for the June quarter.Reuters-polled economists are expecting 10,000 new jobs to have been created. Wall Street ended its day moderately lower over concerns that the protracted trade war between Beijing and Washington could hurt corporate earnings.

Meanwhile, shares in US railroad freight giant CSX suffered their biggest one-day drop since 2008, plunging 10.3 per cent.

Source: Financial Digest (financialdigest.net)

 

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