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Global markets fall for third consecutive day

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Protests in Hong Kong and a crash in Argentina's peso is keeping investors huddled in bonds, gold and the yen for safety

A trader works at his desk in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany. Picture: REUTERS

Hong Kong's airport, the world's busiest cargo hub, had reopened after protests closed it the previous day, but the mood remained febrile after weeks of increasingly violent demonstrations in the Chinese-ruled territory. "Yes, Argentina is a small economy. However, the last thing global markets want to see is another market-friendly government fall to populism and/or geopolitics," Rabobank strategist Michael Every said.

Equivalent US treasury yields were straining for their lowest in almost three years, gold was pinned close to six-year highs and the yen was within a whisker of a seven-month peak versus the dollar. A state of"panic and chaos" now exists, the city's embattled leader Carrie Lam said on Tuesday, defying fresh calls to quit.

Source: Financial Digest (financialdigest.net)

 

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