Analysts warn equities could suffer as corporate earnings reveal the extent of the damage. FMTNews Trump China
HONG KONG: Stock markets suffered steep losses Monday, tracking a sell-off in New York after Donald Trump sparked fears of a renewed trade war with China over its role in the coronavirus pandemic.
Trump suggested he could lump new tariffs on China over its handling of the virus outbreak, claiming he had seen evidence linking a Chinese lab to the contagion. “President Trump is back beating the trade war drums… and increasing the odds of a significant volatility risk event as all roads lead back to trade and tariff,” said AxiCorp’s Stephen Innes.
“For several weeks now the prospect of significant monetary, as well as fiscal stimulus, has prompted a decent rebound in equity markets, largely on the basis that any policy missteps on the part of politicians might be kept to a minimum,” said CMC Markets analyst Michael Hewson.
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