Donald Trump not speaking to Xi Jinping and suggesting he might cut ties with China has led to increased negative sentiment
London — World stocks rose on Friday and oil prices jumped more than 3%, taking the sting out of a week that has seen sentiment hit as deteriorating US-China relations added to worries over how fast economies could recover from the coronavirus shock.
Data showing China’s industrial output in April rose 3.9% from a year earlier, expanding for the first time this year, brought some comfort to markets. Analysts said this week’s drop, while a natural correction after a rally since mid-March, also reflected growing concerns about rising US-China tensions.
“There has also been a subtle change in the perceptions of market participants, for example the negative interest rate debate getting a very good airing in the US.” Faced with an exceptional hit from the coronavirus crisis, central bankers are under intense pressure to do more to shore up battered economies.
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