TOKYO - Asian stocks fell the most in a week on Wednesday as the United States and China’s ever-expanding dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth.
Oil prices fell in Asia as U.S. visa restrictions on Chinese officials and the addition of more Chinese companies to a U.S. trade blacklist weighed on already slim hopes that Washington and Beijing could reach a truce at trade negotiations this week. “The dispute between the United States and China shows now sign of ending. We’re losing confidence in the U.S. economy. There’s more uncertainty about where the Fed is really headed.”
The U.S. moves cast a pall over U.S.-China trade talks in Washington, where deputy negotiators met for a second day to prepare for the first minister-level meetings in more than two months on Thursday and Friday. U.S. President Donald Trump has said tariffs on Chinese imports will rise on Oct. 15 if no progress is made in the negotiations.edged around 0.1% higher to 106.95 per dollar. Spot gold also rose 0.21% to $1,508.90 per ounce.traded near a one-month low of $1.2196 due to reports that Brexit talks between Britain and the European Union were close to breaking down.
The Fed had been shrinking its balance sheet as it unwound crisis-era bond buying programmes. Recent volatility in U.S. money markets raised concern the Fed’s balance sheet became too small, leaving banks with inadequate reserves.
Source: News Formal (newsformal.com)
Crazy Trump brings the whole world economy to big recession
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