Trade war fears or a technical adjustment? Markets around the world were led lower by a big sell-off in Asian markets yesterday. This follows China’s threat of retaliation for the US decision to slap tariffs on Chinese tyre imports.
A genuine trade war between two of the biggest economies, with its potential to spill over into other countries’ trade, would be terrible news for the global economy and therefore markets.
But there is a good case to see yesterday’s trade war fears as a convenient story to explain a variety of market moves rather than the genuine underlying trigger.
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