US-China Trade tensions started again:
Due to US-china tension. Asian shares were set to dip in wild trade on Friday as worries about worsening U.S-China ties offset the fillip from hopes massive government stimulus can jump-start the world economy.E-Mini futures for the S&P 500 edged down 0.12% in early Asian trade, while Nikkei futures pointed to a loss of 10 points. Weaker Australian stock futures also indicated a softer open.
Underscoring the ambivalence in markets, U.S.stocks went down from a near late night people start selling off overnight after us president Donald Trump signed an order that makes their laws weak protecting social media firms and said he would hold a news conference about china or Friday.
Now it is a time when all sight was on Friday press conference hosted by Trump where he will show his response to China over its treatment of Hong Kong.”Risk appetite quickly disappeared after President Trump announced he would address China tomorrow at a press conference. It didn’t take much to help traders rush to exits,” Edward Moya, a senior market analyst at currency trader Oanda, wrote in a note.
If tensions between China and the United States intensify, a build-up of short positions in the S&P 500 index, or bets that the index will fall, could spark a sell-off in shares, Moya added. Due to this US-China Tension, the entire world is suffering from implementing taxes.